The flexibility that AMD has with their chiplet based designs and also their experience with chiplets could mean that AMD can respond quickly and effectively to Intel, or they might simply wait and see what the end users think and for the software side of things to catch up.
Infinity fabric relies on the memory subsystem in AMD's design. Intel's die-to-die interconnects and other on-die interconnects do not. Like it or not (AMD fan here), the Intel design is faster (lower latency on-die) and offers a greater amount of throughput on-die.
AMD needs to improve memory controller bandwidth capabilities to keep disparate chiplets and infinity fabric competitive. Additional (stacked) cache will dampen the blow but is not viable long-term.