This isn't an isolated case. RISC-V makes the same basic tradeoff (simplicity above all else) across the board. You can see this in the (lack of) addressing modes, compare-and-branch, etc.
Where this really bites you is in workloads dominated by tight loops (image processing, cryptography, HPC, etc). While a microarchitecture may be more efficient thanks to simpler instructions (ignoring the added complexity of compressed instructions and macro-fusion, the usual suggested fixes...), it's not going to be 2-3x faster, so it's never going to compensate for a 2-3x larger inner loop.
Where this really bites you is in workloads dominated by tight loops (image processing, cryptography, HPC, etc). While a microarchitecture may be more efficient thanks to simpler instructions (ignoring the added complexity of compressed instructions and macro-fusion, the usual suggested fixes...), it's not going to be 2-3x faster, so it's never going to compensate for a 2-3x larger inner loop.