It's not as black and white as you try to portrait. AMD generally led Intel in the A64 days with power features and got us dynamic clocks on desktop and even asynchronous dynamic clocks with the Phenom.
They were steamrolled though by Nehalem, SB and the constant troubles with GloFo.
A lot changes in 6 years. Especially in the tech sector. Yes, almost everyone knows the AMD glory days. There's no sign of those returning.
I don't think their designs are generally uncompetitive, 40nm Bobcats held their own against 45nm Atoms.
I think that's a pretty poor example. The underlying architecture was already 2 and a half years old.
Also, depending on if the rumor is true that Broadwell will not see Desktop adoption there is an opening for AMD to at least partially catch up/get higher asps.
The rumor was about BGA. There would still be desktop boards, but they'd be non-upgradeable.
I stand by what I said. There's really no way that AMD can beat Intel at the performance per watt or power game. The best they can do is be in Intel's shadow, undercutting them and offering consumers better performance per dollar.
It's not a bad place to be in. The Phenom II was a very popular alternative to Nehalem -- right now, they're not quite back to that "good enough" position that they were back then. Richland looks like it will only maintain the status quo, but Kaveri looks promising.
We all know that Intel has the larger R&D budget by a long shot. How could AMD surpass them? They're certainly turning things around, but that doesn't mean they'll advance at a faster rate than Intel.