What happened is they fired tens of thousands of their workforce. They knee-capped themselves. Having people with experience and institutional knowledge is required. You can't just toss that out the windows and expect things to work.
Now whether they fired the right tens of thousands is another matter.
According to Wikipedia, for FY25:
Intel: 102,000 employees
AMD: 28,000 employees
Nvidia: 36,000 employees
I'm pretty sure the latter two have been growing headcount lately, and even then combined they still have fewer employees than Intel.
Now intel isn’t doing as well on the chip design side as amd or nvidia nor as well on the fab side as tsmc but i suspect that’s on leadership thrashing constantly like it is more than anything else.
[1] https://www.tomshardware.com/tech-industry/intel-will-keep-u...