Largely agree. Arm / Softbank is in a tricky place if there are no credible customers in a given market. Does it just sit on its hands or actually get out there and build some chips! It has helped fund or help some startups that were using Arm designs to get into new markets (eg Annapurna Labs) but sometimes that doesn't work out at all (Nuvia!)

And to be fair I think Rene Haas has been fairly upfront about changing their approach.