the significance and allure of risc-v, the reason china is investing heavily in it right now, has little to do with the technical details of how it works under the hood, it's the fact that it is an open standard not encumbered by intellectual property law. even if it isn't technically the best general-purpose processor architecture, it sets an important precedent by proving that it is possible to develop an open public architecture that the world can use to build computing devices without being extorted by a multinational corporation charging licensing fees or a geopolitical superpower enacting tariffs and sanctions.
> it's the fact that it is an open standard not encumbered by intellectual property law.
There are actually many of those. But Risc-V has become, through effective marketing, the Schelling point for anybody who wants to avoid the x86 and Arm ecosystems, both for the rent-seeking behaviors you mention, and also, in some instances, for security reasons.
And, as others have mentioned, the ISA doesn't really matter. As long as it's agreed upon, then the CPU vendors can optimize on one side, and the compiler writers on the other side.
Sure, Risc-V has its warts, but you can certainly say the same about all the rest.
Isn't almost everything in MIPS long outside patent protection?