If they keep cutting their own throat so to speak then yes, they will have no choice but to file Chapter 11 at some point, but if they are able to control both a consumer and pro market with AMD products that appeal to both and don't cut too much price points they will do more than just survive they will thrive, only time will tell.
I do not think AMD will go bankrupt by 2020. With their CPUs coming back to form and their GPUs launches, I think they are in a position to make headway against Intel and NVIDIA. I would think they also have partnerships in place to guarantee some future revenue streams as well. I do think Intel can afford more "mistakes" and downturns than AMD, so that could play a role too down the line.
AMD just needs to keep toeing the line if you will. Apparently its not miners gobbling up all their new cards, its Hollywood. AMD has created a division within their company that focuses on entertainment, which seems a little sort of odd to me, but the cards apparently do really well on the 4k/8k rendering side rather than gaming. Also, the cards haven't done nearly what was claimed on the mining side, so with that they really need to get back to the gamers. Nvidia too though. AMD CPUs have seemed to make a splash from what I have read though. I just hope they can keep the good fortune turning in their favor and hopefully get price drops across the board. It will be awhile on the graphics side thanks to all of the different factors coming into play or at the very least maybe they can start to allocate for all of those factors.