RISC-V is... fine. It satisfies my two requirements for an ISA as a hobby CPU designer, which are: 1. Supported in mainline LLVM and GCC. 2. I can implement it without lawyers sending me a love letter. Everything else, I can fix in post. There are enough good ideas spread across the extensions that I can assemble a reasonably put-together, curated embedded ISA with competitive performance and code density that admits…
RISC-V is in many aspects just legally-distinct-MIPS, from the base instruction set all the way up to how certain extensions introduce kludges that are very reminiscent of later MIPS additions. While I do somewhat agree on the fact it was a huge missed opportunity to improve upon MIPS's technical flaws in order to realistically compete against the likes of ARMv8, we still have to keep in mind that the primary driving…
There are lots of somewhat successful yet little-known Chinese companies with their own proprietary architectures and the toolchains to match, so I don't think it's that clear-cut. (That said, most if not all of them are somewhat MIPS/RISC-V-ish anyway...)
I do think 8051 is better when you don't need 32 or even 16 bits. Even 4-bit MCUs are still around in ultra-low-cost ultra-high-volume products, which is to say RISC-V is, as you said, just a different flavour of MIPS with very similar tradeoffs.