So a business that is entirely dependent on ARM IP and, for the most part, Android should "remind" the company they're dependent upon? Let's do a thought experiment - Qualcomm switches to RISC-V while the other Android SoC makers (MediaTek, Samsung, Google, Xiaomi, etc.) stay on ARM. Who buys the new Snapdragon RISC-V phone?
They can design chips. What Qualcomm might not be able to do is deliver solid software support for their riscv64 hardware. Android decelerated their efforts toward support recently.