Honestly, Moore's law is dead, but "more than Moore" is alive!
Honestly, Moore's law as he spoke it is dead, but "more than Moore" (MtM) is alive and well with some creating thinking.
I do think folks are overlooking some advantages that chiplets bring to AMD
1. AMD can simply vary the number of chiplets in a package to deliver multiple product families, both server and desktop
2. AMD can direct flows of chiplets to the highest margin sector cheaper and quicker than monolithic dies
3. AMD can engineer/optimize entire product families by improving one chiplet design!
4. Smaller dies lead to better binning with these new variable fab processes, for example low power chiplets go to servers, high performance & power chiplets to workstations, slow and hot to desktops
Disadvantages are more wafer lost to sawing, more expensive packaging, more dies to handle and test.
The higher power draw of chiplets on first glance should lead to a more power-hungry CPU, but in practice this is not true as a large monolithic die has to be powered to the lowest performing transistors on the die, while can be binned to create CPUs which more than recover that energy cost.