x86's big advantage is backwards-compatibility. (Just ask Intel.)
Maybe the sinking of the Itanic could've been prevented had it arrived a decade (or two) later... offloading runtime work to the compiler is all the rage nowadays, compilers just weren't ready back then.
In any case, x86-64 isn't going away any time soon (too much market share/momentum + the US government's involvement in Intel, which isn't limited to the current administration).
ARM already dominates the smartphone market and continues to grow in other areas (Apple + lately Nvidia for desktops, STM32 in embedded).