Once they stutter it’s game over. You have to research and build fabs years before you start using them. What happens when they get stuck and fall behind TSMC for a few generations?
If second place wasn't fatal for TSMC, AMD, or ARM, perhaps it won't be for Intel either?
AMD divested their manufacturing capability in order to compete.
The question I think isn't whether Intel will be around - they will - but what will their business look like in 5-10 years time.