I don't think so, Intel IGP on SB (onward) is not too bad for basic gaming on notebooks. As for GPU performance, AMD's weak CPU with worse power to performance ratio clearly is the cause for it being only found on lower end models.
IF AMD is destined to go down, and instead ARM is going to be next AMD, then what are the odds of Intel buying at least AMD's graphics business? ........ A very wild thought indeed, but one which probably make some sense.
To counter the above, I suspect, AMD can go the other route, and start producing ARM based SoCs to compete in mobile space.