> We’d just get a bunch of proprietary cores which might not even be compatible with each other due to extensions.
No different than ARM. Apple has matrix extensions that others don't, for example.
The ecosystem (e.g., Linux and OSS) pressure will strongly encourage compatible subsets however. There is some concern about RISCV fragmentation hell that ARM used to suffer from, but a least in the Linux-capable CPU space (e.g., not highly embedded or tiny), a plethora of incompatible cores will probably not happen.
> Companies like Qualcomm would have zero incentives to share their designs with anyone.
ARM cores are also proprietary. All ARM cores actually, you can't get an architectural license from ARM to create an open source core. With RISCV at least you can make open cores and there are some out there.
But opening the ISA is attacking a different level of the stack than the logic and silicon.