It would be more accurate to say that there haven't been any RISC-V designs for Qualcomm's market segment yet.
As far as I am aware, there is nothing about the RISC-V architecture which inherently prevents it from ever being competitive with ARM. The people designing their own cores just haven't bothered to do so yet.
RISC-V isn't competitive in 2024, but that doesn't mean that it still won't be competitive in 2030 or 2035. If you were starting a project today at a company like Amazon or Google to develop a fully custom core, would you really stick with ARM - knowing what they tried to do with Qualcomm?
As far as I am aware, there is nothing about the RISC-V architecture which inherently prevents it from ever being competitive with ARM. The people designing their own cores just haven't bothered to do so yet.
RISC-V isn't competitive in 2024, but that doesn't mean that it still won't be competitive in 2030 or 2035. If you were starting a project today at a company like Amazon or Google to develop a fully custom core, would you really stick with ARM - knowing what they tried to do with Qualcomm?