Restoring Intel's foundry lead starting with 18A was central to Pat's vision and he essentially staked his job on it. 18A is supposed to enter production next year but recent rumors is that it's broken.
I have next to zero knowledge of semiconductor fabrication, but “Continued Momentum” does sound like the kind of corporate PR-speak that means “people haven't heard from us in a while and there's not much to show”.
I also would never have realized the 20A process was canceled were it not for your comment since this press release has one of the most generous euphemisms I've ever heard for canceling a project:
“One of the benefits of our early success on Intel 18A is that it enables us to shift engineering resources from Intel 20A earlier than expected as we near completion of our five-nodes-in-four-years plan.”
And despite this total failure they spent many tens of on stock buybacks https://ycharts.com/companies/INTC/stock_buyback no less than ten billions in 2014 and in 2018-2021 over forty billions. That's an awful, awful lot of money to waste.
I think at this point no one believes Intel can deliver. So news or not..