You might be interested in this recent Register opinion article, which (in passing) makes the point that Arm and x86 have thus far succeeded largely by concentrating on things the other is not doing rather than by directly trying to take the same path:
https://www.theregister.com/2022/05/16/riscv_world_dominatio...
If you were a shareholder are you sure you'd rather have Arm focused on trying to sell desktop chips rather than those 30 billion largely embedded and mobile cores they apparently shifted last year?