> There are maybe 5 x86 or ARM variants to care about at any given time

What? There are individual chips with nearly that many ARM variants, including incompatible ISAs (M0 vs R52) and compatible-but-very-different-performance-characteristics implementations of the same ISA (M4 vs M7, say). Even figuring out what portion of code can be shared across which cores (and for those that distinguish between ARM and Thumb mode, what mode that code can be called in), vs what code needs duplicate versions for different cores for correctness, vs what code needs duplicate versions for performance but not correctness (which changes as the code usage pattern evolves) can be a challenge on a single chip; I can't imagine a world where you can think about only five across an entire industry.