You seem to be implying that there's RISC failed.It did fail to deliver on all its promises.
RISC is requires less logic (=area,power) to implement
True, but ultimately it is overall energy usage that is important. A tiny low-power CPU with less performance will take longer to complete a task than a larger faster higher-power one, meaning it consumes more energy. That's what the article I linked to shows.
processors have faster cycle times
That's not necessarily a good thing, as Intel's failed NetBurst microarchitecture shows. Making a CPU with such short delays that it can run at upwards of 10GHz is futile, as power dissipation becomes a huge problem long before that.
In fact, Intel have a few proprietary microcontrollers hidden inside their chipsets and SoCs that were designed post-2005ish and these have RISC architectures.
If you're referring to the ARC4 in the Management Engine, I have a feeling that was chosen for reasons other than being RISC or otherwise.
It is completely absurd to expect a team of 10 or so grad students to compete with them.
I remember it said that RISC would be so simple and performant that such small teams could easily design CPUs which vastly outperform the big CISCs at much lower prices, so I don't think it's that absurd of an expectation.