> ... I have some faith they’ll give up on the pursuit of next gen fabs and focus instead on their IP.

The problem with Intel is that they are so short sighted and they change direction and focus very quickly. Intel will adopt these seemingly great ideas that require 10-20 year strategies, invest heavily in them, and then abandon them 5 years later. They always measure initiatives against their core CPU line and if they don't show similar profitability in the short term then they defund and eventually cut the programs entirely.