To be fair, for years and years, new Intel CPUs were faster/better/whatever. What you remember as "kicked to the curb" was really something more like an occasionally great product in a sea of mediocrity where the industry was having terrible trouble competing. Someone would have a chip out with great reviews, and then the new Intel architecture would ship and everyone would forget about it.
The current environment where they lag in almost all the high end product spaces is very much a novelty.