I think anyone writing off AMD CPU and GPU as "nah, still won't be best" needs to have a bit of a re-think of their logic/etc.
CPU wise they've been right on Intel heels since Ryzen started and got closer each gen (with last gen being a "well, if you REALLY must spend another 20-30% for <10% extra... sure, Intel wins").
GPU wise they had the short run of AMD Radeon VII GPU's that were basically around a 2080 non-ti (with heat issues and... clearly not the best card, don't get me wrong). Again, right on nvidia's heels. Otherwise they made a point of staying out of the bleeding edge fight and fought in the mid-range markets (did pretty well too). Now they've stated an objective to have a "top card" again...
In both cases they've had major lithography improvements in their partner foundry to leverage in THIS generation of both CPU and GPU that puts them at an advantage vs intel/nvidia when they were already pretty close.