Intel promises you better performance from a new processor than what you can get from one in the same class one that is several years old, also from Intel.

You're paying for a new one, but it performs like something that is several years old that you can obtain much more cheaply.

Another aspect of it is consumers who chose an Intel chip over a competitor's. Intel does promise competitive performance. Their pitch isn't "we are slower, but just buy us on the brand name alone".