Well all you have to do is refer to history. Intel made a lot of strides in over 50 years, but they were outdone by AMD many times. Intel may be down for the next few years, but they'll come back eventually. Consumers should never favor one side over another or rather they shouldn't wish for Intel to be down forever or go away. We'll have another Core situation on our hands with AMD at the top. Competition is always good for the consumer.
Thing is, Intel's been able to rely on the fabs during the bad periods. Now... not so much.
You will still get competition but it might come from ARM and not Intel.