There are too many companies out there that started with a good product/service - and then bureaucrats took over. Smart companies minimize layers of management, and manager headcount. Bad companies don't - and they eventually are unable to grow/innovate. A shockingly high percentage of corporate America is parasitic management.
Intel happens to be in an industry that moves so fast that this doesn't work for long, relatively.
A small startup can just go bankrupt if it fails, but in a big company (like Intel) there can be more collateral damage