I'm more doubtful of their ability to produce something sufficiently competitive.
Usually consumer software moves faster to adopt new tech stacks anyway. OS X supported x86-64 in v10.5 in 2007, but Photoshop didn’t go 64-bit on Mac until 2010 with CS5.
My best guess is that it’s because big pro applications have a mess of dependencies and some inner guts in the high performance code where it drops to assembly. Building that for alternate architectures isn’t as simple as checking a box in Xcode.
I am sure major shareholders of apple will not want to bankroll a 7nm fab and the massive massive costs in producing a competitor to AMD and INTEL
I really still have a lot of doubts about this idea that they will even try it. It doesn't seem that there is really anything in it for them in doing this.