There is no reason for Intel to panic. The M1 architecture isn't direct competition for Intel's x86 line in anything but Apple computers. At most, this is 10% of Intel's annual sales. Between Apple pursuing the ARM architecture and AMD pushing hard with Zen on the x86 side, Intel is facing additional pressure, but it's the kind of pressure they felt during the Pentium 4 years. The outcome of that was the Core architecture.
Apple's ARM architecture has been putting this pressure on Intel and AMD for a few years. It's been obvious to anyone with a passing interest in computer architecture that the A line of Apple ARM chips has been approaching computer-class performance at competitive power consumption. AMD may have been struggling to catch up with Intel for the last 10 years, but Intel had the luxury of being the market leader. Intel is large enough to have a competitive analysis team who should have been keeping a pulse on the market. It would not be overly outrageous to have them keeping an eye on the major components (instruction renaming buffers is a major component) and performance implications (raw benchmarking has been available for a while, including which individual instructions and workloads it excels at) and have a timeline for a competitive set of abilities.
When Core came out, it knocked the ball out of the park. Its abilities and their impact on power and performance were a jump forward. If memory serves, the first Core CPU came out with a L1 cache hit a full clock cycle earlier than anybody else in the industry. That had massive performance impacts. There were a few other relatively minor tweaks, but it summed to a single jump that rippled through every CPU design of the time.
M1 has been constantly building up for many years along a relatively straight line.