FUD Zilla looks back at the event and clarifies the "license feee" was never really about GPU licensing. It was more of a settlement, where Intel agreed to pay NVIDIA $1.5 billion worth of license fees to settle the nForce issue. For PR reasons, it was called a licensing fee:
The deal is over, and guess what, Intel didn’t announce any new license for the GPU, simply as this never was a GPU licensing deal. People close to the matter from several different independent sides have confirmed that the deal was never about licensing. AMD’s deal with intel turned out to be a Vega GPU stitched with EMIB to a Core processor and nothing more than that.FUD's article further explains that AMD, Intel and NVIDIA are unlikely to sue each other for violation of graphics patents, because they are all borrowing each other's ideas.
It was simply easier for Intel and Nvidia to call it a licensing and not the payment for the damages caused by cutting Nvidia out of the chipset business. Intel had a history of bully behavior and it didn’t take competition well.