They missed the GPU market (AI/ML/Gaming) and the console market. Hence they lost all of that to Nvidia and AMD. Both of those companies now have a bigger market cap than Intel.
How is this so difficult to understand? It is very simple, not obtuse, unless you are autistic.
Nvidia market cap is $2.26 Trillion.
AMD market cap is $290 Billion.
Intel market cap is $178 Billion.
AMD and Nvidia used to be a tiny fraction of Intel.
You guys are getting autistically stuck on this irrelevant detail about CPU popularity in gaming PCs and missing the bigger topic of the discussion. But even in that niche, Intel has lost significant market share to AMD.
That is my point. Emphasizing the earlier statement: "They missed the gaming market".