I worked there for six years, through fumble after disaster after boondoggle. I could go on and on about all the reasons I believe AMD went down the tubes -- and I'm really looking forward to reading the second installment -- but I think a lot of it reduces to the disfunctional corporate culture alluded to in this piece.
During my time at AMD -- and the old-timers confirmed that it was ever thus -- there was always the sense that every project was make-or-break for the company, that we were always on the brink of disaster. Long-term strategic planning is simply not in the company's DNA. We lurched around like a headless chicken, and when -- through a combination of good products and missteps by Intel -- AMD finally got a taste of sucess, we squandered it in the most ham-handed and disastrous (and predictable) way.
P.S. Bulldozer project was a total horror show, beginning to end.