That's fair. The good news is that for signed overflow, you can claw back to the cost of unsigned overflow if you know the sign of either argument (which is fairly common).
It's just a bizarre design choice. I understand wanting to get rid of condition flags, but not replacing them with nothing at all.
EDIT: It seems the same choice was made by MIPS, which is a clear inspiration for RISC-V.
1. 64 bit signed math is a lot less overflow vulnerable than the 16/32 bit math that was extremely common 20 years ago
2. For the BigInt use-case, the Riscv design is pretty sensible since you want the top bits, not just presence of overflow
3. You can do integer operations on the FPU (using the inexact flag for detecting if rounding occurred).
4. Adding overflow detecting instructions can easily be done in an extension in the future if desired.