Yes, quite simply they have fallen behind while also promising things they have failed to deliver. As an example, their most recent flagship release is the 11900k, which has 2 fewer cores (now 8) than its predecessor (had 10, 10900k), and almost no improvement to speak of otherwise (in some games its ~1% faster). On the other hand, AMD's flagship, which to be fair is $150 more expensive, has 16 cores, very similar clock speeds, and is much more energy efficient (intel and amd calculate TDP differently). Overall, AMD is the better choice by a large margin and Intel is getting flock because it sat on its laurels for the last decade(?) and hasn't done anything to improve itself.

To put it in numbers alone, look at this benchmark. Flagship vs Flagship: https://www.cpubenchmark.net/compare/Intel-i9-11900K-vs-AMD-...