From what I read, AMD explicitly chose some details to be close to Intel's, e.g. cache size, size (and existence) of micro-op cache and so on. Software / compilers and Intel CPUs are optimized for each other, so it's best to be similar and a maybe a little better where it makes sense. While that strategly doesn't yield something vastly better than Intel has, AMD really needed something good so it wouldn't go bankrupt. Due to the process situation and a few nice energy-related innovations like clock stretching (allows running at voltages very close to instability), AMD actually did get more power-efficient high core count CPUs.
