If games consoles do well in the next few years AMD will do okay. The Wii U has AMD graphics, the PS4 will and the XBOX successor is rumored to have AMD too.
It turns out ATI's death sentence was rather pronounced when it was acquired by AMD. ATI is now far behind nVidia, and there is no catching back now that they depend on AMD's situation so much.
The entire history of the GPU business is one of companies leapfrogging each other. And unless you have more specifics of how 'they depend on AMD's situation so much', then it sounds like you're just making stuff up.