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I'm not in the industry but from what I gather, i agree with you 100%. Bloomberg published an article on the matter though, but it seems they are reporting that

• Aromasin 2y ago
  Gelsinger always said this was a 5-year plan, yet the board jettisons him at 4 just as IFS customers are starting to ramp up, the 18A node is close to readiness - the company's saving grace at this point - with Panther Lake on the horizon and Altera preparing for IPO in 2026 which should be a relatively good cash injection with PE investors already negotiating stakes. Maybe I just don't have the whole picture, but it seems poorly timed. I hate the idea that the board might do this just as Intel's prospects start looking up after years of cost-cutting measures to bring the company back to profitability and take credit for a "miraculous turnaround" that was actually instigated 4 years prior by the same person they sacked. It's like an incoming political party coming in and within a couple of months of office taking credit for a good economy that they had no hand in creating.