That just seems like nonsense. There's absolutely nothing that stops innovation – Intel's problems are primarily the result of a technical failure to implement their last process node, and the corresponding failure to manage the outcomes that went along with that.

There's a small cost to maintaining the x86 architecture, which impacts on processor performance. But the idea that somehow processor designers switching to ARM will somehow make them fast an innovative is obviously wrong – I mean we've got AMD right there getting performance which is substantially closer to the M1, there have been countless ARM chips out there forever, and the M1 is itself absolutely an incremental approach to processor development!