And to fight Intel's decision on such technicalities would doubtless require one. So you end up paying $300 US an hour for a part costing maybe $400 total. Costs may vary, but you get the point.
And then, in the United States there are potentially several warranties. There is the manufacturers' express warranty, such as that you quoted above. But there is also something called an implied warranty of merchantibility. That warranty is imposed by federal law (expanded upon in several of the states) on anything a merchant offers for sale. It states, basically, that a merchant has to sell a product that is suitable for the purpose for which it's advertised and sold or the purchase price must be refunded.
In Intel's case, they have a segmented product line: un-overclockable, and unlocked/overclockable for which customers pay premium. So they charge extra for something they say is suitable for a purpose and but then appear to void warranty (which also has a value) if the product is used for that purpose. I don't think that would fly in a court. But I'm not a lawyer either and it would take that same $300 / hour attorney to prove the point and recover cost of a $400 part.
When it comes to either AMD or Intel's CPU's I've not heard any horror stories about warranty denial for overclocking specifically (for AMD denial is due to bent/broken pins). Maybe there are some but the ones I am aware of (with AMD) hardly raise to "horror" level because the person indicated in their claim that they'd overclocked making denial pretty easy. I also think it's fair to say these CPU's are robust enough that problems that pop up when OC'd, overvolted or undervolted go away when the processor is operated in full stock "published spec" settings and that takes away any warranty claim in all cases. But of course, degradation is cumulative and eventually that won't be the case, but most likely only once the processor is out of the warranty period even if well before a typical design life of 20-30 years.
But in the end, I am confident AMD and Intel have thought this "unlocked processor" thing through pretty thoroughly in all aspects: marketing, engineering and legal. They neither want a huge warranty liability hanging over them nor loss of good will with their customers, especially so for Intel who charge a premium for the privilege.