Why is everyone so reluctant to consider that IBM's engineers have come across the same issues in the 14 nm and below scale as Intel. But, IBM being a more diverse business, have decided if it can't compete in 3-5 years time, they might as well sell off now while there are still interested buyers?
Simply put, maybe the linear progression in the development of the silicon chip fabrication processes has reached it's end or is about to?
On the other hand, we could be more optimistic and say IBM has reached a huge breakthrough with such a different process that all their current facilities are obsolete. But I prefer my science fiction of grim dark variety ;)