And I'm not so sure they'll be able to go into ARM fabbing that easily. Margins of X86 are high, but they are selling less of them, so expanding to new market would have been a wise move.
To their credit, they tried twice and couldn't make it work. Not sure if things could have been different considering ARM is a licensable architecture other people can use.
x86 was already on lock down. They could have ridden into the ARM ecosystem, guns blazing, and wouldn't have lost a penny from their existing x86 platform. ARM doesn't compete against x86 in mobile. That's obvious now, but it (apparently) wasn't obvious at the time.
When the margins on x86 cross below that of ARM chips, Intel will come in and destroy all the ARM manufacturers.