Back when I started ocing 5 years ago, the situation was somewhat similar to this, but not quite this bad. Intel had a definite lead over AMD with the HT-enabled Northwoods which oc'ed insanely on very stable and smooth platforms.
A high end AMD rig could be had, but with both clocked to the max, the P4's would win by a little bit. Nonetheless, the majority of most enthusiast sites like this used AMD systems.
Why was that? Well...I bought my AthlonXP 1700+ for $59.99 in 2003. It made it from 1.47GHz stock to 2.5GHz on watercooling. The cheapest Intel alternative was a 2.4C, for about $170. The Intel boards were also about $100 pricier. So I'd save about $200 but lose a little bit of performance.
Huge savings, slight performance hit. The bang for buck choice was obvious.
Now, we have AMD's absolute fastest products getting completely crushed by Intel's slowest. And yet, for some reason, they are still pricey as hell.
Even a Phenom 9550 will run you ~$160. Who in their right mind would buy that when you can easily pick up a Q6600 for about 10 bucks more which will completely walk all over it, both in clock for clock performance and raw clocks??
Offer me a Phenom for the $59.99 I spent on my AXP and you got me sold. I'm sure many others would quickly jump to AMD if they had their products priced as agressively as they used to be in the past. The cheap pricing is truly what made them popular, probably more so than their past performance crowns.