Intel is already running their CPUs at the red line. We're seeing the margin breaking down as Intel tries to remain competitive. The latest 14900KS can even pull > 400W. It's utter insanity.
I wish I kept up with them better, I swear every 3 months I see a headline that is "Intel says N nodes in {N-1 duration - 3 months}. I think I just saw 5 nodes in 4 years? And we've had 2 in the last 4? Sigh.