Client computer (desktops and laptops) accounts for the bulk of Intel's revenue. PC sales are flat already, AMD is roaring, and suddenly Apple drops a bunch. It isn't looking good.
Data center revenue consumes the bulk of the remainder. Amazon is going all in on Graviton2. Google just heavily committed to AMD. Intel used to own this market and now it is under serious threat.
Everything else -- Optane, IoT, software, networking, chipsets, is a relatively small business comparatively. It'd be a huge business for many other firms, but it's small compared to Intel's beachhead.
At the same time, Intel is years out of data on chip fabs and is making extraordinarily little progress. Their fabs are close to anchors rather than assets now.
The GPU comment gave me a laugh. Intel has had a stalking horse GPU promise for literally two decades now. Always grossly overpromised, massively undelivered. There is no one who expects Intel to do anything credible in that realm anymore.
I don't remember anyone saying Intel was dead at any point. But never has it felt more precarious: Intel was so pathetically desperate to hold onto x86 and to forcefully segment their own products (crippling their own offerings lest they impede the huge margin high end) that they ate the seed for the next season.