My view is that currently the only way for Intel to salvage themselves it to go ARM route and start licensing x86 IP and perhaps even open source some bits of tech. They are unable to sustain this tech by themselves nor with AMD anymore.
It seems to me when Apple releases their new CPUs I am going to have to move to that platform in order to keep up with the competition (quicker the core, I can do calculations quicker and quicker deliver the product). Currently I am on AMD, but it is only marginally faster than M1 it seems.
Contracts and agreements can usually be dissolved if all parties agree to do so. Intel and AMD could also continue to don't change anything and basically play chicken until they both run into the ground.