How was Intel "circling the drain"?
They have a very competitive offering of CPUs, APUs, and GPUs, and the upcoming Panther Lake and Nova Lake architectures are very promising. Their products compete with AMD, NVIDIA, and ARM SoCs from the likes of Apple.
Intel may have been in a rut years ago, but they've recovered incredibly well.
This is why I'm puzzled by this decision, and as a consumer, I would rather use a fully Intel system than some bastardized version that also involves NVIDIA. We've seen how well that works with Optimus.