Very surprising given that Intel had, what, a 15 year head start on their SMT implementation? AMD somehow manages to outperform Intel's version in their very first attempt and also, as far as we know, do it in a more secure way considering OpenBSD is going as far as recommending disabling Intel's SMT altogether for security reasons.
I wonder if they just never touched HyperThreading at all since the Nehalem days, falsely assuming it was not something that could be noticeably improved? I mean up until Haswell they can be forgiven for focusing on single threaded performance since they actually got somewhere with that approach but beyond that it's surprising they never bothered tweaking it.