Something is seriously wrong at Intel, they have a huge R&D budget and yet cannot get 10mm to work for the umpteenth time. This stinks of a leadership/management issue and I am not confident they can right the ship, specially with Apple going ARM and Nvidia could jump into the fray.
In my opinion, Intel is failing because of complacency. I cannot think of anything other than complacency that lead Intel to continue waiting for 10nm to work, while recycling the Skylake architecture for 5 generations. It seems like they are expecting AMD to continue with Bulldozer kind of performance, and no significant improvements from ARM SOCs.
They have deep pockets, which further adds to their complacency. The fact that they lost the fab advantage, means they lost half the advantage they used to have. Now they have to work even harder to deliver IPC gains to keep up with competition.