AMD picks a better bat for winning the match
Without AMD nipping Intels heels, corporate strategy would reign supremely in deciding the pace of the PC evolution. New processors would patiently wait for older models to complete their tour of duty before being introduced. The state of the art would carry a $1000 price tag.
We've been there, we don't want to go back. Certainly not because the average consumer holds a (largely) meaningless number as the sole point of comparison between processors.
Intel still owns the PC market. AMD has to play their game if they want to survive. Having the megahertz count disappear from AMD's marketing material will make the rules slightly less biased. It won't be free homeruns, but a better bat.