Intel wasted the last decade because they elected a shareholder optimizing CEO who chose to prioritize shareholder payouts and attempts at controllig the ecosystem rather than pushing it forward over investments.
Now they're completely outclassed by TSMC and have to partner with UMC to compete.
The point is that thing can change. Intel was king a decade ago. TSMC is on the summit at the moment. Intel can be back in a few years if their plan works out:
Intel has already been making good low-end GPUs (with lousy but rapidly-improving drivers). If they're smart, they'll keep at it.