On topic: If Tom/MLID was correct all those many months back about Intel massively scaling back and basically killing off the dGPU division? That's the worst timeline.
I don't think MLID was wrong. He may shoot in the dark or outright invent a lot of his leaks, but he isn't completely irrational in his analyses.
ARC suffered from all the Intel problems: overly expensive to make, late, inefficient, trying to hold 25 plates all at once and juggle them, all the while not having the basics covered.
You can look at Meteor Lake and find the same things: silicon interposer, tiles, LP cores, capable iGPU, everything and the kitchen sink to make it amazing. But the ring is slow, the LP cores keep being insufficient and have to offload, and the core is just not very good. Meanwhile AMD keeps redrawing the same old I/O die since literally Zen 2 and puts all the cheapest stuff into the uncore, but the cores are so strong that they're still winning.
Basics mastered then advanced stuff. Intel lost the basics. I don't think they'll recover unless some extreme breakage happens.