The most compelling argument for POWER was to make sure there is competition to amd64/x86 and we do not develop a monoculture. I think arm and risc-v have filled that hole nicely and taken over for POWER. Without readily available and affordable hardware I do not see much of a future for POWER in open-source. It seems entirely dependent on IBM to keep it going unless this changes.
I do agree that without other processor makers, however, the Power ecosystem is crucially overdependent on IBM policy. This is not a new problem but it hasn't gotten any better with OpenPOWER.