X86's long standing advantage is it's pre-existing catalogue of software. Modular programming, if not platform agnostic programming have largely eroded that. Certainly in server world. Emulation is proving very good on ARM which might unlock legacy desktop migration too. Looking at you Apple.
That leaves you with hardware performance; which is ultimately about performance per kilowatt; and perhaps reliability, security & value-added service provision.
Intel IME is hardly an appreciated technology and often a burden. So is AMD AGESA. Make living with Intel better.
Make ownership of X86 slick, and deliver on competitive products with AMD and they will do well. 12900K is the new "desirable" desktop for many gamers. Not a market to ignore given sales linked to it.
Innovation for Intel by poking at marginal gains is also tough - they are involved in so many markets already it is hard to see where to expand or do new in terms of semiconductors. Getting more into software / service provision would be a sensible route. If WinTel isn't what it used to be; hook up with Haiku and make that deployable in real world (or other OS of choice).
Biting the hand that feeds IT
