AMD shouldn't win a single benchmark, period. The FX's architecture traces its roots back to
October 2011 and to this date it's on 32nm node. Since that time Intel went from 32nm Sandy -> IVB -> Haswell -> Broadwell -> 14nm Skylake and before Zen launches, they will have Kaby Lake.
Looking at FX isn't determinable to write-off Zen or discuss the merits of Zen gaining market share and making $ for AMD vs. the existing FX series. AMD doesn't need to outright beat an i7 6700K to make $ and gain market share. Right now they are in a position where there is practically no CPU/APU worth buying. Even if they have 3-4 CPUs/APUs that are suddenly worth buying in 2017 and beyond, it's already world's better than the position they have had for the last 4 years.
If you look at Intel's existing product stack, their sub-$180 product line is mostly mediocre. It will not be that difficult to introduce quad-core/6-core processors that will beat i3s. If they improve the IPC by 40%, while halving their power usage, even if Zen is slower in IPC than Kabylake, many people will take 80-90% of the IPC but 2X the cores because right out of the gate an i3 is already outdated out of the gate for modern gaming. Essentially the weakness in Intel's product line-up is that they don't have any great/excellent products below an i5 and up. This is the area that AMD could try to exploit with Zen most effectively assuming they meet the IPC target and lower power usage significantly. Intel of course could easily respond with an unlocked i3, drop prices on an i5, move i7 down to i5's $230-250 price level and move 6-core into the $350 price range. After all they already sell 5820K for $320 at MicroCenter which means even at that price they are making money.
However, without seeing Zen and Arctic Islands, it's way too early to call the demise of AMD.
AMD gets 1-2 influential people on board like Keller, and we read how 1-2 people cannot change the company. AMD is doomed.
AMD has 1-2 influential people leave the company, and we read how 1-2 people are enough to completely destroy the company. AMD is doomed.
That tells me most people who keep repeating AMD is going bankrupt/doomed any quarter now just hate AMD as a firm or have vested financial interests in AMD failing. No one with any common sense or logic would want for our GPU sector to become a monopoly, which means any sane objective PC gamer would want AMD to get back on track in 2016.
If tomorrow 100 of the smartest people across Google, Intel, MS, Apple, Tesla all joined AMD and worked for free, on AT forums, there would be AMD is doomed threads based on some other factors. Why? Because there is a certain group of members on AT who will only focus on the negative aspects of AMD. Even if tomorrow AMD invented the cure for cancer, there would be threads that AMD is doomed since they would run out of $ before they can pass all the pharmaceutical testing stages to get the cancer drug out to the market. What else is new on AT forums when it comes to anti-AMD propaganda? Just another day.
In the meantime, AMD has 3 semi-custom design wins, the first of which should start earning them $ in 2H of 2016. They will have > 1B of cash on hand at Q1 2016. They have already
tapped out various SKUs of Arctic Islands GPUs which are going into production soon. With HBM and 16nm node, AMD stands to gain market share in both the desktop and mobile dGPU market segments as NV will no longer be completely uncontested like was the case when AMD basically threw in the towel by Spring 2012 on the entire mobile dGPU sector.
Then by Q1 2017, there will be Zen products coming out which which will be better than Bulldozer/Vishera which means AMD will gain market some share against Intel.
In other words, it's way too premature to even discuss "the writing is on the wall" until at least Q1-2 2017 when we can look at the impact of Zen/Arctic Islands top-to-bottom stack, etc.
In the meantime, AMD stock has increased 29% in the last month, which suggests that the investor outlook is more positive on the firm than it was during July 2015 when the stock fell to as low as 1.62.