Itanic was hype from the word go. Intel tried and failed twice to make "VLIW CPUs that rely on 'sufficiently smart' HLL compilers doing the right instruction packings" a thing before Itanium came along (iAPX 432 and i860). I think someone very high up at Intel was in love with the idea despite its repeated failures.

Alpha was clearly the future -- and Itanic ruined Alpha. We didn't even get to see it live on inside some other corporate sarlacc.