I think the need for x86 compatibility is overblown and rapidly diminishing. Only legacy closed source applications have a need for such binary compatibility. Cloud infrastructure runs largely on open source technologies such as Linux and couldn't care less whether the instruction set is x86 or ARM. Moving an application from x86 to ARM is usually only a "make" away.
When I visited the Elbrus Laboratories in the early 1990s I was shown big iron Russian supercompters made out of 1970s and 80s vintage technologies. I was told that we built these out of necessity from vacuum tubes, and "they work". Russian/Soviet science and technology has come a long way, and has ways to go. It's gratifying that Elbrus is tackling ARM software and is presenting at the SV venue.