But that's actually why, despite my complaints, I'm not worried about Intel's actions here. I don't think Intel is offering good value compared to their competition.

The markets where Intel has wins are niche workloads and consumer (AMD is supply constrained and focusing all efforts on the high margin cloud/enterprise market). Otherwise they are losing, and offering lower value will make them lose faster.

So to summarize, I think it's not only immoral, but a losing strategy.

Most of the world operates on value-based pricing. For instance, you could probably afford to work for less money, but you are unethically asking your employer for more money than your pure cost of living. You presumably expect your employer to pay based on the value you provide to the company, not your costs.

It may or may not be a losing strategy, but I think it’s very strange to see value based pricing as immoral. But maybe? I’m open to correction if you ask your employer to lower your wages when your costs go down, e.g. by paying off a car or student loan.