RISC-V is in many aspects just legally-distinct-MIPS, from the base instruction set all the way up to how certain extensions introduce kludges that are very reminiscent of later MIPS additions. While I do somewhat agree on the fact it was a huge missed opportunity to improve upon MIPS's technical flaws in order to realistically compete against the likes of ARMv8, we still have to keep in mind that the primary driving force behind RISC-V is and has always been fixing the legal flaws instead.

There is indeed plenty of value to be had from a standardized (if poorly) PlayStation-1-era instruction set you can safely implement in silicon with no risk of a zombie company husk coming after you, especially in the ASIC space where (as Dmitry himself recognized) anything is better than an 8051 core you need a copy of Keil C51 and a lot of patience to write code for. Even if you end up having to add custom extensions, it still is a much better starting point than coming up with your own bespoke ISA, building a toolchain around it and convincing potential customers that your proprietary architecture is worth the effort to deal with over another vendor's licensed Cortex-M cores with full GCC and LLVM support.