https://seekingalpha.com/article/4091974-intels-rope-dope-strategy?
The fact that Intel could grow revenue and profitability despite AMD being “back” has the legions of AMD fans struggling for an explanation. Yet, it's not difficult to figure out what's going on.
As pointed out recently, Steam's user data suggested that the base of AMD processor users was not growing relative to Intel. AMD has mainly been selling to their existing base of long-suffering users, who have been anxious to upgrade to an AMD processor that wasn't grossly inferior to Intel.
There's no evidence that AMD is winning converts among Intel users. AMD fans might argue with justification that Ryzen is a better value, but this doesn't seem to be carrying a lot of weight among existing Intel users.
But the intolerance of non-believers, and the vicious attacks on them (as I've endured for more than a year), have not served to win over converts to the true AMD faith. As a result, AMD is only selling to the converted.