It doesn't know what it really is, what it wants to become and who is it really competing with. Is it a foundry? A design house? Is it competing with the top-tier foundries TSMC and Samsung? Mid-tier foundries like GF, UMC and SMIC? Are its main competitors AMD, Nvidia, Qcom and even Apple? This is what happens to a company when its manufacturing, engineering, business models and its very essence are all being simultaneously disrupted from different fronts.
Intel, you need to decide if you are going to focus on manufacturing or design. Spin-off the fabs and unleash design prowess by enabling full use of latest TSMC advanced nodes. Or forget about the design groups, prop up your fab tech and become a true foundry without any conflicts of interest with your customers. IDM 2.0 is BS, you can't have your cake and eat it too. Frankly, you should have made this decision 4 or 5 years ago. You are quickly becoming an obsolete dinosaur.