X86 is still needed for a lot of software. The emulation just isn't there yet.
Competition is always good
A number of businesses have switched to using arm EC2 servers from x86 EC2 servers for lower costs and things work fine on them.
x86 isn't going anywhere for a long time.
Imagine if AMD never existed. Everything about owning a computer would be worse. Likewise now we need Intel ( or someone else, perhaps a Chinese OEM) to make competition.