The first generation was complete garbage. Itanium 2 came too late and it did not get widespread due to wrong business decisions and marketing. By the time it could have been successful, AMD64 was out. And even then Intel targeted only the same high-end enterprise market segment, when they have implemented 64-bit on Xeon: https://www.cnet.com/tech/tech-industry/intel-expanding-64-b...

That is the whole point, assume there was no AMD64 to start with.