Why not work as before (on 3D XPoint) with Micron and try to pursue PIM (processing in memory) on DRAM? It doesn't go around the DRAM manufacturing constraint, but it helps them sell new PIM-DRAM coupled to Xeons. Right now, they have "pie in the sky" GPUs and nVidia has their boot on Intel's throat, while Xeons and let alone normal cpus are going down the drain.
Intel needs to innovate under constraints and, if history is to be reinterpreted, this won't end well for them. They need less management and to double-down on engineering and their lithography pipeline.