So Glofo is basically a second rate company making a second rate process.
Or, more reasonably, GloFo is optimizing for different things than TSMC is optimizing for. GloFo's big areas are supporting a certain type of server chip (ie IBM), and supporting RF. Given finite resources, doing that means they can't support leading-edge mobile as well as a company (TSMC) that has prioritized it above everything else...
That doesn't mean they're second rate at either their RF stuff, or their IBM support stuff. It's also possible (jury is still out) that their 22nm SOI stuff may be a very sweet spot for a wide range of wearables and IoT chips that want low-power (and perhaps even on-board wireless), but that can't afford the commitment required by the next move down, to FinFETs.
The one thing GloFo IS second at is second largest foundry in the world. That suggests they're not totally incompetent.