It was a pretty bad time - ARM wasn't really encroaching on any of their markets in the way they are now & AMD was struggling. Intel basically just left the engineering to rot & the business people to try and gouge consumers with things like the Intel Upgrade Service, low power CPUs that were essentially just normal cores but less rather than optimized, inflated prices etc.

It also allowed AMD to completely blindside them with Zen - so we're in a situation where AMD now dominates consumer desktop and arguably a lot of enterprise/DC instead of it balancing towards a more competitive centre.