L1$ is always starved, thus it is always good to fit more code in it.
In an embedded context, a lot of that doesn't matter either way - your dumb coffee maker doesn't have a lot of opportunity to spy on you anyway. Smart devices are a very different story. However, Chinese embedded chips are often very cheap for the capabilities.
Given all of that, China seems like a great option if they produce RISC-V processors.
State sponsored extortion is still a thing.
The number of Windows-exclusive programs are rapidly dwindling. In a few years, it may not be such a big deal to simply avoid that with Linux (or FreeBSD).
Outside the hobbyist space people do seem to be shunning Chinese SoCs AFAICT. Maybe no name TV boxes have rockchips, but other than that not much.