I'm pretty sure they have their 14nm business, and are working really hard to get a 7nm manufacturing business? A quick search gives me news articles about Intel hoping to have 7nm working by 2021.
They bent over backwards for cloud providers and offered them special deals that helped finance the cloud providers transitioning to own silicon. They fused off features to create false product "differentiation" like the IBM of old and failed to deliver technology after technology in working form (SGX, TSX, 10nm, ...) They held the performance of the PC platform back by trying to capture all of the BoM for a PC. (e.g. tried to kill off NVIDIA and ATI with integrated 'graphics')
Customers are angry now, that's their problem. Intel is like that Fatboy Slim album, "We're #1, why try harder?" They still think they are the #1 chipmaker in the world but now it is more like #2 or #3.