Whining about "MBAs" is almost always technical person speak for general discontent about company direction, often from the non-business parts. You don't see complaints about CEOs of Apple, Google, or Microsoft much, though they all have MBAs.
Intel is a hardware tech business, its a complicated space that needs deep knowledge to understand it before you shape the future of it.
Technical people might not be the only ones that should run business but they should be the core of it.
I have same view as the video, engineers need more power and decision making not less to win. Intel will not fight back by cutting down cost of production by 5%. But by creating next gen chip.
When they have engineers - we get 737, 747 and many more. when they have MBAs - we get 737-MAX, 787.
As result - when things (elements) are trying to getting work together they fail spectacular.
But that all goes to pot when the technology is changing so fast, the battle between companies becomes a battle about who advances technology fastest. In a battle fought over engineering, the engineers have a home ground advantage.
It's impossible not to notice that Apple, Google, Microsoft and Facebook were all founded by true nerds and when you here their leaders speak, most engineers feel right at home with their reasoning. When Microsoft changed their leadership to a non-nerd, it started to wither and die. Fortunately for them, they fixed that.
Isn't a good MBA supposed to not just understand business, but also everything that enables business to exist (i.e. product development, research, etc)?