That was me being diplomatic. Intel main issue, execution, has been going on for ages and exacerbating gen for gen (starting with 22nm, very visible with 14nm, exploding with 10nm).
Alright, then everything is fine.
Oh, more problems?
Even more problems?
I'll readily admit that Intel is excellent at (over) promising.
Look, from back in 2011 the only person still in the same role is Mark Papermaster as CTO. All other major roles at AMD were being newly filled in the subsequent years, with Lisa Su joining in late 2012 only being one of many. Her major influence after being appointed president and CEO in 2014 was strongly focusing AMD on what turned into Zen. But the restructuring, recruitment of new leadership and work on new projects that turned into Zen started under Rory Read and especially Papermaster. Those years, 2012-18 were marked by little financial flexibility as AMD, not having competitive products, was continually losing revenue streams and getting ever closer to bankruptcy.
The point comparable to AMD's major leadership restructuring 2012 is Intel's 2021 due to Pat bringing in his close staff like Greg Lavender as CTO and old workmates from more stable times at Intel. Intel under Pat still has to work out the long existing execution issues, still has to get through possible years of not-quite-competitive-enough products in many markets (chiefly servers), still has to be able to handle economic turbulences (Intel essentially turning back many of the changes from 2021 already in 22 and 23 is not exactly boosting the confidence no matter the macro environment).
Whenever somebody compares Intel's tbd comeback to AMD's comeback I always think of AMD's financially harsh uncompetitive years 2012-18. Intel had the chance to turn the ship around when they kept making record profits quarter by quarter. Intel had the chance to turn the ship around when the pandemic pushed the downward trending PC market to unexpected new highs instead. Intel botched both chances and is now facing a very tricky macro environment instead. So at this point Intel may well have to replay AMD's years of hurt.