I've been more or less in the same situation as you, I've been pretty much an Intel guy my entire life. I typically bought only laptops with AMD cpus as they served the best value. Now I don't like to be a one company vs the other company guy, I always get what serves the best value to me with whatever tech purchase I do.
The last time I upgraded was in 2011. Apart from the occasional SSD and HDD upgrade I never upgraded the other main components. This year I've done what's mostly a transition upgrade, get parts when you see deals on them. I fixed a price point for each component and bought one that fit the bill.
AMD has definitely turned the tide and have positioned themselves very well at the moment. Not that Intel are terribly lagging, people online will tell you that they are way behind. And on paper yes they definitely are. But in reality if you got an Intel CPU and it's comparable AMD CPU and you used them side by side you probably won't notice any difference.
Reason I went with AMD was I will not upgrade for another 10 years or whatever, so right now they have the better features in an overall package, more cores on the CPUs, PCIe 4.0 support for GPUs and NVMe SSDs. Even though currently you won't see any benefit of those technologies, they are actively being developed to push them further and further where I truly feel you'll see a difference in another 2-3 years.
That said, the new Ryzen 5000 series are to be released next month but they are being marked up price wise and stock of them during launch day/week/month is most likely going to be scarce.
I think for a good budget build for gaming and productivity a Ryzen 5 3600 paired with a B550 board will give you the best bang for the buck. They are quite good for future proofing for at least 5-6 years at the very least in my opinion. With that you're freed to spend more on other components that you may value like GPU or monitor etc..
I think Intel will catch up and come back in a bigger way as they have all the capitol in the world to make it happen. It just might take them another 3-4 years at the least. So for now AMD offer the better overall option.