Talk is cheap, and Intel has been doing a lot of talking with no substance to back it up. There have been rumblings about their plans to release a vanilla M1 competitor............years from now. I'll believe it when I see it, and by then M1 and all its variants will seem primitive compared to M3 or M4 or whatever else.
If I were a professional short seller or something like that, I'd be looking pretty hard at Intel. They're really starting to behave like RIM or Microsoft, where they think their user base is too loyal to ever think of moving to anything else. Eventually a competitor is going to disrupt you. If you weren't already planning for it, you get caught flat footed.
The reason things like this don't often happen to Apple is because they bet big on technologies they know are going to be great, even if it's YEARS too early to make them mainstream. In other words, the time to start working on an M1 competitor was 10 years ago, not 2022.
I think a lot of that has to do with the fact that chip designs take a few years from start to finish. The M1 caught them largely by surprise (and it shouldn't have, they've been watching the iPhone for years and knew the rumors about it coming to Mac), but it takes quite a while to actually get them from design to fab. Anything they're designing today will take a few years to actually bring to the market.
Assuming they play their hand right, Intel will have a chance to take big leaps forward in the next couple of years once Intel 4 starts going into production (assuming it doesn't get delayed again). Intel has been forced to find ways of bringing performance improvements without the advantage of leading edge fabs, and those optimizations won't go away once they move to new fabs. They're still a LONG way away from what Apple has done, but Intel isn't throwing in the towel yet. It'll take a few years to see how it all plays out long term.