This is not a recent development. TSMC has been mass producing 5nm chips for slightly over a year now. The first 5nm chip on the market was the Apple A14 (iPhone 12 line) released almost exactly one year ago, and soon thereafter (November 10th, 2020) the first M1 Macs.
Samsung has had their ""5nm"" chips out since early 2021 with the Exynos 2100 and Snapdragon 888. It's in the ballpark of TSMC's process but not as dense.
Intel hasn't even announced their first mass market 7nm (or ""Intel 4"", sigh) products yet. ""Intel 4"" is inferior to Samsung's and TSMC's 5nm processes on paper, and it'll likely not even be next year that we're going to see products with them.
I don't think Intel's foundries will be competing on the leading edge of the market. They'll have be trying to have value focused production with their 14nm and 10nm processes, I would guess. There should be plenty of demand there still, but it'll be a good while - if ever - before Intel is leading again.