In a real market struggle without artificial restrictions, Intel would definitely be bankrupt by 2030, if not earlier. Yes, in fact, if it weren't for all this geopolitical mouse fuss, they would be bankrupt by 2026.

I remember Intel promised a transition to 10nm by 2016...)))

TSMC does not stand still. If it is not artificially slowed down (and this is what everything is heading towards), and also by forcing it to scatter its forces with direct political orders, which we are already seeing in reality, then Intel has no chance against TSMC.

And where is the real market competition if the US government is playing on Intel's side?