So … use RISC-V as the strawman, and create a community-based RISC-6 that doesn’t have these weaknesses? Better to get in now before it becomes too solidly entrenched.
None of these things are remotely bad enough to make the downsides of using another ISA palatable.
Even RISC-V itself was adopted by volunteers and supported by toolchains, and then kernels, and applications.
The amount of work is less a problem than the motivation. And motivation really just depends on recognizing that the status quo sucks, but is fixable.
64-bit instructions with 4 bits indicating instruction formats (60-bit, two 40+20-bit variants, 30+30-bit, 20+20+20-bit, three 30+15+15-bit variants, and 15+15+15+15-bit). Have each larger instruction type be a strict superset of the smaller instructions, but with larger immediates, more registers, and maybe additional instruction formats (eg, for SIMD).
Something like that would be even easier to decode (converting short instructions to long is simply a bit of wiring). Instruction density should increase due to 20-bit instruction type. Having properly-aligned instructions would help with fetching performance. Larger instructions means you can jump 4x further with the same immediate and 16-bit offsets. No need to have some of the V extension workarounds (from not wanting to add 48-bit instructions).
2-register to 3-register also just involves different wiring and costs nothing. I think you'd see 15-bit stick with 2-register. 20-bit would more interesting. You could choose to spend 3 bits on a third register or you could widen 2-register instructions to access the 32 core registers (or something between where you do 3-register, but only on 16 registers). 20-bit also reduces some of the need for very large 15-bit immediates (especially jump which is upward of 10% of the total space on 32-bit designs) which could allow more 15-bit instructions further improving effective density.
Easy access to 40/60-bit instructions mean stuff like vsetvli could simply go away and very useful instructions like FMA4 (instead of FMA3) could be added. Vector masking is another big one. They don't have enough bytes for a full vector mask set resulting in some hacks.
The big question is about jumping and predicting inside packets. You can add 2 bits for what externally looks like 16-bit addressing (where the 2 bits indicate packet position to jump to) or have faster jumps that always hit the beginning of the packet (at the expense of code density due to nops). There might even be a hybrid approach where short jumps can jump within a packed, but long jumps must jump to packet boundaries (which makes sense as most compilers make functions align on cache line boundaries anyway). There is a point for eliminating 20-bit (and all that compression goodness) for 45+15-bit pairs instead) as branches inside packets are immediately calculable.
Also the 60bit format will really help for loading immediates..
That said I wonder why normal ISA do not contain a 'Load Immediate on Next PC'? And if you want to allow parallel decoding the first byte of the immediate would be a 'special noop' and the first immediate byte would be inside the Load Immediate Next PC instruction instead.
RISC-V does a 20-bit LUI (load upper immediate) then a 12-bit addi to the same register for the lower bits. Having access to 40-60 bit immediates makes 32-bit immediates a lot easier (with 64-bit immediates being multi-step, but quite uncommon).