If Intel is serious this time about letting third parties into their fabs then it could be quite the reversal of fortune. However, as I've said in the past Intel is most likely to do this with "alternate" process streams, in order to not expose their full capabilities to competitors.
High hopes but low expectations. Real estate in AZ could be a good investment though.
Geopolitically it makes no sense.
What exactly do they expect any much changing from thus move other than Samsung getting even more desperate, and Korea possibly moving closer to China if the next Korean president will be a gullible populist (which is now a close probability.)
A lion share of high tech manufacturing happens in Taiwan-SK-Japan triangle, all within walking distance from China, and reachable by their nuclear weapons.
The whole of semiconductor industry is %60-%70 Taiwanese play with leading fab suppliers manufacturers often being single vendor, and in Taiwan.
If something happens to Taiwan, the entire semi supply chain globally stops, as happens every time after a major earthquake there.