That's probably not good. There needs to be healthy competition.
The capitalist thing to do though would be for Intel to buy AMD. TBH I'm surprised it has not happened.
What I would love to see though is the open/libre community actually get together to design a processor, build fabs and actually build a processor from scratch. The architecture does not even matter, they can make their own, then work with the Linux team to support it. With the backdoor stuff in Intel and AMD processors, something like this is needed.
The amount of money and knowledge required to pull something like that off would be in the billions though so it's just a pipe dream.