They're not considering it not to be a vulnerability. They're simply saying it's outside the scope of their bug bounty program.
Looks like there's a serious security bug in their scope document.
The blog post title is "AMD won't fix", but the actual response that is quoted in the post doesn't actually say that! It doesn't say anything about will or won't fix, it just says "out of scope", and it's pretty reasonable to interpret this as "out of scope for receiving a bug bounty".
It's pretty careless wording on the part of whoever wrote the response and just invites this kind of PR disaster, but on the substance of the vulnerability it doesn't suggest a problem.