M1 chip is a classic case of some big old monopoly (intel) that refuses to innovate. Probably all the execs over there will get wildly rich while they loot the company and drive it into the ground.
Most likely there is a bunch of middle management that blocks the innovation. Its a refusal.
I think it's more likely the same mistakes Intel made when approached to supply chips for the iPhone have persisted: focusing more on "raw performance" over "efficiency". When it's been clear for years, and especially clear now, that efficiency is key to raw performance advancing new processor designs.