Firmware & systems dev here, ARM still dominates in the microcontroller space. There are some niche offerings from major vendors but again they are niche. Espressif is the sole exception with their newer ESP32-C series chips, but they can get away with it due to their massive HAL. ARM Cortex is still the standard because there’s a decade or two of inertia behind it.

An apt comparison would be C vs Rust. Yes, Rust may be growing in market share, but C still dominates.