The ISA being open source means that if SiFive goes out of business or changes its product lineup, or starts to make buggy stuff, or charge too much ... no matter what happens, the customer is free to find another vendor to make software-compatible chips.
As we've found out with ARM this week, even if one company with ARM's highest and most expensive form of license, the Architecture License Agreement (ALA), makes a CPU design they are not allowed to transfer or sell that design to another company that also has an ALA without ARM's explicit permission. Or so ARM claims. Let's see what the courts decide about that.
Per my understanding RISC-V has nothing even close performance-wise to Arm's high-end stuff. So isn't it apples to oranges?
Cortex-A77 isn't ARM's fastest anymore, but it was in 2019. Meaning SiFive was, in 2021, not even 2 years behind. If tracing back to prior generations, you'll see SiFive has been quickly closing the gap.
To the point that it wouldn't surprise me if at the next iteration from both companies, SiFive and ARM highest performance cores were on par.
What's even more amazing is that SiFive's cores are consistently smaller area and lower power to the ARM cores they have comparable performance to.
[0] https://www.sifive.com/cores/performance-p650
[1] https://www.phoronix.com/image-viewer.php?id=2021&image=sifi...
Open ISA is huge. It may not mean open hardware on its own, but it sure as hell opens the door to open hardware in the future. I think there is a chinese CPU in development that is claiming to aim to be the linux of CPUs. Can't remember the name but they were at one of the risc-v conferences recently.