There was always a deep cultural problem in Intel - at least since otellini when I was there. But it's not just the management that was arrogant - engineers too were a bit arrogant because they were taught that Intel was the best. The cultural problem was Intel assumed that they did not need to look outside the company about how the world and tech landscape was changing, and really they assumed they could always depend on the semiconductor process advantage to cover design inefficiencies. So the whole company was living in the past. Plus they did not hire the best - either in terms of thought leaders or in terms of senior people who were really really innovative. Intel had or has this culture of hiring lots of recent college graduates who would push new designs that were iterative but they were not of the level of new patents, or truly an outcome of research. Whereas amd was being successful with a much smaller number of employees, because of new patents and hired mostly senior people.

Once Intel lost its research focus it became an extractive company extracting the riches that were already there, instead of creating true innovation. Case in point - Intel stopped doing it's research day long time ago.