I think it's a bit "too little, too late".
Imagine if AMD had actually released Competitive APUs in Q4 2019. Think, the pandemic is starting, we're getting chip shortages, crypto miners buying all those overpriced dGPUs.
Meanwhile, we're getting affordable 8nm Zen2 CPU and RDNA 2-Lite GPU on a single chipset. Not too different to the Xbox Series X.
But they didn't go that route, instead AMD reduced the supply and increased the profit margin. And they made a lot of money during the third crypto boom.
ARM ?
They don't have much support (yet) from the Desktop and Server market. The Cortex A72 and Zen1 were the period to make viable alternatives to Intel's Skylake architecture. Whilst the Cortex A76 and Zen2 had (narrowly) surpassed them. I think with the upcoming Cortex-A730 and Zen5, they will leave Intel's 13th-gen products far behind.