"getting crushed by a wave of very low cost Chinese competitors"
That's an odd way of spelling "maintaining a stable market share in the face of Chinese competition".
Going forward, IoT security is going to be an increasingly important factor for new designs. The EU is quite serious about combating security problems with IoT devices. And security is something that the new products coming out of Nordic is very serious about.
I don't think many big, serious device manufacturers are willing to risk being the target of the first catastrophic IoT attack just to save some pennies on a dirt cheap Chinese design, with some poorly verified RISC-V core thrown in with a power hungry Bluetooth radio.
ARM TrustZone is not something the RISC-V ecosystem has a clear standardized answer to yet. So I think that's a reason why ARM will keep its role as the main application processor in high-end BT/Thread chips for the next several years.
Nordic is a very high volume supplier of BT chips for consumer applications, but is getting crushed by a wave of very low cost Chinese competitors. Among the western chip companies, they are the ideal candidate for RISC-V adoption. I'm very curious to see what TI is planning for RISC-V as they begin to seriously engage in the low cost general purpose microcontroller market for the first time.