It's really as simple as that. They are almost here. They have been studied. I have found them wanting.
My goal? Build up a themed Khorne list and trounce them. Oh, don't get me wrong, the Space Wolves get some new love, they have an awesome theme, get new models, and they aren't the same as other Space Marines out there. But with all that, they aren't an unstoppable wrecking force.
Space wolves will do well because they are brand spanking new marines that aren't normal Space Marines. They are a different style of play. They have new tricks, and time will tell which ones are really worth it, but I'm not worried. They aren't game breakers. Good generals will still be good generals. Space Wolves aren't an "I Win" button. I'd go further and say that for players lacking skill, Space Marines will still suit them far more than Space Wolves will. The Space Wolves aren't generalists like Space Marines. This means you have to take advantage of the Space Wolves strengths. You can't rely on the Space Marines default abilities doing the work for you.
So, what do I expect you'll see? People jumping onto the new Marine codex using their current marine armies. They'll do this for one of two reasons. They are losing a lot, or they actually prefer the style of the Wolves. The latter will be greatly outnumbered by the former. The former will die, and die a lot.
That being said, GW should put out a bits kit of just wolf capes. I'd love to throw them on the backs of my berserkers to represent all the puppies they killed.