I consider Rocket Lake, Alder Lake, Raptor Lake, Raptor lake refresh and Arrow Lake all part of the same next gen architecture after Skylake. Intel has had almost five years. They can have five more but I don’t know if it will help.They are doing a refresh because they just don't have anything better to launch other than higher clocks on a mature node. The last time that intel launched something "new" in a hurry was with Raptor lake. And we all know how that eventually went down.
The thing that surprise me, is the amount of people on tech forums who seems to believe that it's that easy to make a strong µarch. It took 3 generation of Ryzen before the arch became a good allrounder. Yet people won't give intel new cpu design philosophy time to mature. Let them figure out how to improve the latency issue on their non monolitic design. Throwing money at the problem doesn't always work, sometimes the solution to a problem depends on the evolution of other technologies that might not be ready to market yet.
The first gen pentium 4 also had a negative IPC vs the pentium III. The difference with Arrow lake vs the pentium 4 is that Arrow lake is being compared to a makeshift architecture that ended up having many issues in order to reach a target performance. The pentium 4 was a regression from a very good µArch. So much so that the core µArch took principles from the P III and became a strong product.