That’s what the likes of AMD with their chiplet design have been doing.
There’s also the issue of older process nodes not being profitable enough anymore, which explaines why at the height of the chip supply crunch older ARM chips were in short supply but there was ample stock of the 20nm feature-sized RP2040.
This is gonna sound super dumb, but I'm not sure how they aren't being profitable if there are shortages, just price things beyond break even level? The average person can't even tell the difference between a Core 5 and a Core 5 Ultra, you can practically sell them at the same price and I'm not even sure they'd notice when actually using them. The performance jump is relatively minor and the bottlenecks are elsewhere.