On the other hand if x86 keeps competitive there's lot of inertia in its favor. So it could go either way. Desktop especially has been a tough nut to crack for anyone other than Apple and they are only 8% of the market.
Probably more than 8% by value and with the hyperscalers looking at Arm that's a decent part of their business at risk - and that's ignoring what Nvidia, Qualcomm etc might do in the future.
Agreed that intertia is in their favour but it's not a great position to be in - it gives them a breathing space but not a long term competitive advantage.
