External GPUs will remain and I think Nvidia has an advantage in that niche currently.
The reason stack ownership matters is because it allows tight integration which leads to better chip design (and better performance/efficiency).
Windows has run on ARM for a while for example, but it sucks. The reason it sucks is complicated but largely has to do with bad incentives and coordination problems between multiple groups. Apple doesn't have this problem.
As Apple's RISC design performance improvements (paired with extremely low power requirements) become more and more obvious x86 manufacturers will be left unable to compete. Cloud providers will move to ARM chipsets of their own design (see: https://aws.amazon.com/ec2/graviton/) and AMD/Intel will be on the path to extinction.
I'd argue Apple's M1 machines are already at this level and they're version 0 (if you haven't played with one you should).
This is an e-risk for Intel and AMD, they should have been preparing for this for the last decade, instead Intel doubled down on their old designs to maximize profit in the short term at the cost of extinction in the long term.
It's not an argument about individual consumer choice (though that will shift too), the entire market will move.