I'm not really sure what AMD or Intel were doing in these past 10 or so years, but they need to change ASAP. The M1 Mac is great, but a similar linux laptop would be incredible.
Even if Intel/AMD processing power was not competitive with Apple Silicon (which it is), there is a laundry list of reasons for many people to continue buying PCs.
To be sure, Intel has struggled "these past 10 years or so", taking their sweet time pushing PC processing power forward, and then making a series of mistakes in engineering. AMD also struggled prior to 2017, but they've been riding a series of successful engineering ventures recently. In the meantime, Intel will likely succeed well enough in remaining competitive with their massive resources and investments in research and development.
While the impressive performance, and especially efficiency, of Apple Silicon brings Apple into the mainstream as eligible devices, there's still, as I said, plenty of reasons outside of performance (and efficiency) that make PC's worthwhile options. Of course, if you're a fan of macOS, there's already no reason for you to consider a PC, but if you really do like Linux, then I'm not sure what it is about the current state of AMD/Intel processing hardware that you dislike so much.
On PC, Intel and AMD is great, the desktop M1 is not that great vs. those CPUs. The problem is the laptop form factor. All Intel and AMD laptops I owned so far were noisy, overheated, had worse trackpad, and didn't last long on battery. Those are not a problem with PCs.