I do think long term there gets to be more hope for CPUs here with inference largely because memory bandwidth becomes more important than the gpu. You can see this with reports of the MI-300 series outperforming h100, largely because it has more memory bandwidth. MCR dimms give you close to 2x the exiting memory bw in intel cpus, and when coupled with AMX you may be able to exceed v100 and might touch a100 performance levels.
HBM and the general GPU architecture gives it a huge memory advantage, especially with the chip to chip interface. Even adding HBM to a CPU, you are likely to find the CPU is unable to use the memory bw effectively unless it was specifically designed to use it. Then you'd still likely have limited performance with things like UPI being a really ugly bottleneck between CPUs.