The idea was to have as many simple ALUs as registers. Results are kept in the ALU/register. All reads are essentially result forwarding. For example a simple RV32I requires 2 read ports and one write port on each register. If we use 2 R/W ports and put an ALU on each register, you reduce from 3 to 2 busses and can also do operations 2 at a time when an instruction clobbers one of its inputs. Or an ALU op along with a load/store.