I feel something very interesting will be revealed now.
Basically the question is, Can Intel actually produce much better (define better how you wish) chips is it really needs/wants to ?
One could easily argue, and many have that Intel simply due to lack of competition dragged their heels over the past decade or two.
And, whilst it's something I don't like, who can blame them.
Complacency is indeed a factor. The thing is, these decisions take a many years, and if they're wrong, they take all those years to finally come back to bite you.
Around 2005-2015, they were hard to compete with in the laptop, desktop and server areas. It wasn't really clear until the early 2010s that their choice to reject Apple's contract to make the iPhone CPU may have been a major mistake.
As I understand it, they let go of some engineering staff thinking they were doing well enough without them.
Then, on top of that, they ran into issues moving from 14nm to 10nm, having to postpone over and over. Despite that, they (originally) made the choice to
not come up with a newer microarchitecture (after 2015's Skylake) for their 14nm CPUs, thinking a few minor changes would be enough to buy time. Those minor changes resulted in the many weird families of Kaby Lake, Amber Lake, Comet Lake, Whiskey Lake, Cascade Lake, Cooper Lake.
They didn't ship any 10nm at all until the 2018 weird one-off Cannon Lake 8121U.
Things have actually started looking a lot better since 2019: Ice Lake in 10nm started ramping up (indeed, the early-2020 MacBooks Air and Pro use it). Then they shipped Tiger Lake (which Apple hasn't yet used, and maybe never will), which comes with quite a performance boost. Tiger Lake is way ahead of AMD in single-core performance per watt. It's only when you use a much higher-wattage AMD CPU that they beat Intel on single-core performance.
However, Tiger Lake still doesn't scale up to higher-end laptops, much less desktops and servers. Desktops will soon instead get the weird retrofit Rocket Lake architecture, which is still 14nm but inherits many improvements Tiger Lake has had, such as PCIe 4.0. It's only for the generation
after that that things become more interesting: Alder Lake is slated to unify the line-up, bringing it to 10nm, and also adding a heterogenous setup where some cores are high-performance, and others are low-power.
I'm guessing even with Alder Lake, they'll be slower than the Apple M1. AMD will be, too. And Qualcomm? Not even playing the same game.
TL;DR: Intel made strategic mistakes out of complacency, because they were pretty damn good for many years. On top of that, they had engineering issues with 10nm, which lost them several years. They're slowly recovering, and it's unclear if that will be enough.