And for many generations now, x86 machines are basically RISC processors with a CISC frontend.
Empirically it seems that CISC has 'failed' as a way to design processors, and it's better to let the compiler do that job when you're building a general purpose computer.
The reason for that is that a lot of features in a CPU instruction are just the result of toggling some part of the CPU on or off so having four one bit flags is better than encoding the same value in two bits. What this means is that you can have more possible instructions available on the uop layer than on the ISA layer. When that is the case you can hardly call the internal design a "RISC" processor. Especially when the ISA wars were specifically about ISAs and not microarchitecture. Even if we say that uops are RISC instructions that still is an argument against RISC ISAs because why bother with RISC as an external interface if you can just emulate it? Your comment seems rather one sided.
Other designs from the same time followed on from the wunderchild of the time - the Vax which everyone loved and wanted to emulate.
The big change of the time though was changes in memory hierarchy, caches pushed closer to CPUs (eventually got pulled on-die) which favoured less densely encoded ISAs more registers and instruction sets that didn't require a full memory access for every instruction.
In my professional life time we've gone from 'big' mainframes with 1MHz core cycle times (memory cost more than $1M/megabyte) to those Vax's (actual silicon dram!), to what's sitting on my lap at the moment (5Ghz 8/16 cores 64Gb dram etc).
I don't think CISC 'failed', it was simply a child of it's time and the constraints changed as we moved things from giant wirewrapped mainframes with microcode to minimise ifetch bandwidth, to LSI minicomputers to VLSI SOCs with multimegabyte on-chip caches
We even had some false starts: when vector operations were first created, they were quite complex, then they were simplified into better reusable components; also when encryption operators started to appear, they were very complex, then they broken into much more flexible primitives. There is nothing really saying that we will be able to break down all kinds of operations forever.
But still, I wouldn't bet on any CISC architecture on this decade.
Anyway, the reason x86 lasted for so long was Moore's law. This is patently clear on retrospect, and obvious enough that a lot of people called it forward since the 90's. Well, Moore's law is gone now, and we are watching the consequences.
If you can break your specialized instruction into a few much more generic ones, it's probably a gain.