Ha, I would
not be surprised if a lot of the related iteration work is done via PCI(-e). Those cards are probably a) already being made and are well-understood, and b) part of an accepted single-order-quantity cycle, which would mean the runway needed to iterate a few
more times to make the card releasable would theoretically not only be that hard to justify but be able to reuse existing processes.
I feel like the amd64 legacy (and x86 in general) will maybe be like IPv4. Itanium, OpenSPARC, SH4, MIPS, Coldfire, etc (incl. many more I'm forgetting) all eked out a living for a while after they "died" as platforms, while others like POWER are still around. x86 on the other hand has been the leading-edge architecture for virtually all client and server applications on for literally 40 years, without missing a beat. That graph has been pinned at pretty much 100% for that entire time.
So, yeah, the ARM revolution is here, but even in a world where Intel and AMD pivoted all their advertising to ARM, the x86 industry would still have enough ecosystem-driven momentum to continue to stay pegged at 100% for probably another 15-20 years. But that's not the reality - Intel and AMD aren't going to pivot away from all the contracts and partnerships and carefully nurtured deals and stuff they've hard won over the years, so there's definitely going to be continued life in the platform.
Or at least that's my mental model, which absolutely does not account for network effects.
This being said, the relative openness of the ARM licensing situation, along with the fact that the architecture hasn't fully matured in terms of peripheral and chipset configuration and whatnot, makes ARM a very very interesting platform to do exactly what you mention regarding 1980s-esque "industrial-scale experiment" type computing. I actually got bitten by precisely this bug a little while ago :) and have been noodling over the subject ever since.
Sadly, virtually every existing enterprise out there would probably fear such an idea as anything other than an eyes-only thought experiment, and I feel it would be ideologically impossible to fully convince security-conscious customers of the foundational integrity of the systems' roots of trust if I went down the VC route, even if every investor was a unicorn :/