Microsoft partnered with Qualcomm 6 years ago and there have been a number of terrible systems released. You probably haven't heard of them because of how bad they are. If there's any progress for Windows+ARM, it's really from Qualcomm's exclusive agreement expiring. They're hyping the Nuvia team right now, but Qualcomm's track record is ridiculously bad, and there's a bit more work involved here than incanting "ARM".
The Xilinx devices above are also FPGAs with ARM cores (a natural evolution from FPGAs with soft cores, MicroBlaze in the case of Xilinx and Nios in the case of Altera).
Microsoft first needs to recapture their developers. They still have those that target their platform with Visual C++.
The form factor might change. We might go from a large box to a docking station for a tablet or laptop, but the mouse + keyboard + monitor(s) is never going away.
At that point, might as well start my dream recycling business where we desolder, test everything and sell them as parts. They do it in China at scale, why not Europe... Main question is, would there be enough buyers? Small repair shops are also dying...