Re: For now, it doesn't matter yet
You're right that a reduced process size doesn't mean higher performance by itself. But it does mean lower power usage, a smaller die and hence lower manufacturing costs per chip. Or of course you can use that extra transistor budget you now have to add extra cores, more cache, or for a tweaked die design that uses additional transistors to increase the performance of the chip.
Not saying it isn't possible to compete with an older process. AMD themselves managed it back in the early 2000s with the Athlon, Athlon XP and Athlon 64 that competed well whilst usually running a step or two behind Intel from a process size perspective.
Still, a smaller process size gives you more options and flexibility, and AMD is currently reaping the rewards of this.