Even Intel itself does not expect to receive clear lead over AMD before 2025. And that requires no delays. Raptor Lake is years behind even Zen3, not to mention Zen4. I'm talking about servers here, that's where money is and that's where AMD clearly bets.I see no reason why Intel could not manage to achieve a clear lead over AMD with their next generation a year from now.
But while Intel's lead would be clearly visible, AMD would still remain a viable option unless one needed the absolute maximum of single-thread performance attainable - and AMD, of course, would, I expect, make great efforts to keep up.
For same reason I don't expect AMD to even try catching Intel on single thread performance at any cost before hybrid cores (Zen5?). AMD does not care if Intel has small single thread advantage as long as AMD can put much more cores on single CPU with lower power consumption.
For resources, it's more about decisions. AMD made bad decisions with Bulldozer (and at least two arrchitectures before that, unreleased). Intel made bad decisions with 10nm. And so on.