I disagree. Intel seems to be as good as either one at chip design, but they are hamstrung by behind behind in manufacturing. They haven't really struggled with performance, its performance per watt and cost that are their problems. Both of those are mostly fab issues.

Lunar Lake, built on TSMC, looks really competitive. Both with Apple, and with AMD (though AMD has had constant struggles with shipping laptop chips to the point they aren't even seriously considered for large scale enterprise deployment).