The long term issue is they are still two years away from a 10nm server chip while TSMC are already shipping 7nm parts (roughly equivalent to Intel 10nm). Further, a return to 22nm chipset production indicates a large disruption in their product plans, as evidenced by Intel outsourcing production of some of their 14nm products to TSMC!

Intel certainly gave away a two year process lead that is slipping to two years behind their competitors, which will certainly put an end to their lovely fat profit margins.

Intel aren't doomed, but they gave away and will have given away all of their competitive advantage by sleeping at the wheel.

Further, AMD have abandoned production of their high end server parts at Global Foundaries, so they will no longer be constrained in process capability or supply as they were in the past.

It seems that no one in upper management have read the book, "Only the Paranoid Survive." Maybe it should have been required reading.