I think they can pull it off. I watched as they went from Motorola 680X0, to PowerPC (which was huge) and then to Intel (hell froze over!) So this happening would not be the least bit surprising or concerning.
The difference is that PowerPC and then Intel processors were performing far better than what else was available. There is no indication that ARM processors are set to out perform what Intel can offer. This whole thread is based on a bit of news written by someone who is known to make things up and get emotional in his reporting, the day after ARM dropped nearly 8% due to news of Intel's next technological step.