And the better solution is to finally ditch backwards compatibility with the 8086 and implement a sane instruction set that isn't just a virtualized layer à la x86
The virtualized instruction set enables the performance gains by executing portions of instructions in parallel, re-ordering to avoid pipeline stalls, better branch prediction, execution shortcuts depending on operanda, etc. without compiler support. RISC architectures like ARM do this as well. On a modern Cortex part with multiple execution units, the processor is not a textbook pipelined RISC processor like this community seems to yearn for. So if you look at machine code for some reason, yes the instruction set is simple, but it's still a facade over complexity.
I don't understand the constant cry that processors are complex. To gain performance against the frequency limit, complexity increased. This happens with software all the time.
Also, for those that want direct control over all the elements of the processor, go buy an Itanium... oh wait... no one did.
If you're advocating for a whole new instruction set, good luck with that. May as well go outside and yell at the clouds.