I always found the idea behind the VLIW processor architecture to be a quite good one to be honest, but I read many engineers in many places saying that it's a bad one and it was doomed from the beginning.
The article says that the death of Itanium is mostly due to the disinvestment in the IA-64 caused by the threat of AMD overtaking the x86 market, even though the competition for the x86 market probably benefited all of us, I still find it a bit sad that there was this loss of architectural diversity and sometimes I wonder how well the Itanium would perform today if it weren't killed.