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The situation must really be dire
Honestly it doesn’t look like they are threatened by ARM after all. Qualcomm and Microsoft keep screwing up and I’m not sure who else has both capability and aspiration for PC market. Apple are doing their own thing and not looking back but they’re not going to really threaten x86 in any foreseeable future.
Microsoft’s superpower is failing upwards, so don’t let their mistakes lead you to believe they’ll stop.
It’s not the first time they borked Windows on ARM so I’m not holding my breath. I think they’ve reached the limits of how badly big corpos can try to push their luck.
Monopolies typically don’t like when they can’t just buy out their competitors.