The news is basically that newer CPUs will be released that do not suffer from the vulnerabilities. The design will be different in some way.
With respect to people getting free replacements… I wouldn’t hold my breath. We’ll have to wait and see how things play out but I’d expect class action lawsuits, settlements, etc. People getting some money back and then using that to buy newer hardware.
The bigger question I have is whether Intel will roll out newer CPUs that aren’t vulnerable but are compatible with existing chipsets. So, for example, I could simply swap out my 6700K with a safer CPU without a new motherboard. It would be nice but I won’t be holding my breath on that.