Nvidia does the same. The same GPU is targeting gamers, professional OpenGL apps, and HPC CUDA apps. Targeting multiple markets isn't necessarily bad- if you find sufficient overlap.
Nvidia in terms of hardware has basically one GPU architecture focused in graphics, another focused in GPGPU processing and a SoC line that has both a custom and vanilla ARM cores but uses the graphics part of their GPU-focused chips. The custom core part is being scaled back. That's much more focused in my books.
Nvidia is developing different products to different markets. The high end GPGPU products aren't being constrained by the cost requirements for the mainstream PC market, while the mainstream PC parts aren't getting bloated by the compute requirements. That's completely different from GCN, which tries to be everything to everyone.
Same with their CPU line, Nvidia shifted from tablets and phones to embedded, but they were not developing both markets at the same time and their products will have the constraints of only one market. AMD future chips OTOH will be on embedded products, Microservers, mobile market and also on the consumer market, and that means both the software support teams and the IP blocks will have to bear the requirements of all these markets. Oh, and don't forget that they are developing TWO processors that will compete for the same market.
Lol, the AMD bashing brigade will try to use anything as ammunition.
That particular point could easily be regarded as "maximising return from investment"; business 101.
Maybe you could explain us how to burden a product with the requisites of multiple, diverse markets when you have less R&D money than every single one of your competitors is "maximizing returns from investment". With this strategy the only thing AMD is accomplishing is making sure that their products will be always second to something, and have to compete on price.
Ed: I think it's quite clear already that there isn't a single market bracket where AMD is the defining player of it. Intel is the defining player on the entire x86 market, while Nvidia has the marketing leadership on the GPU market. AMD is the follower (budgtet) in every single market they are in and they do not have the scale to beat the leaders on cost, as Samsung does with Apple. There's only two strategies that could work on this scenario, cut down the company to the point it will have adequated scale to compete against the smallest leader (Nvidia), as IDC pointed out, or try to find a market bracket where AMD can be the leader player and phase out the other markets along the way. Both strategies need AMD to get out of the consumer x86 market in the medium term and both strategies need AMD to have a much smaller span than they have now.