What I'm saying is the only reason the P4 design is "broken" is because of the scaling problems encountered that were previously unexpected. It was deliberately designed that way with sound thinking behind it with the knowledge fo the day - because existign designs hit a brick wall at ~1.2-1.3ghz.. Unfortunately, the design didn't work as expected. Intel (and everyone else, but intel was on the bleeding edge) did not foresee the drastic power leakage problems approaching 3ghz.
Any CPU designer has to make some core design choices and they are all trade-offs. In the P4s case, the trade offs were IPC vs clock speed. Clock speed did not scale as expected, hence it was a dog. If the unforesee problems above DIDN'T happen, P4 would have scaled to 10Ghz, and no it would NOT have needed a refrigerator to cool it. The only reason they were hot was because of the above issue.
And yes, exact same thing with AMD today. They tried to automate their CPU designs to punch them out cheaper and more cost effectively than doing layout by hand. Different design choice, but it was still a risk. That didn't pay off as expected. Bulldozer is the result.
The thinking was sound, the execution, and reality differed from the theory.
Unfortunately CPU designs are a major investment, and like intel in the early 00s, AMD now have to live with it until they can spend the time and money to change direction. Hopefully, AMD have what it takes to weather the storm. I'm not so sure they do though.