Last I remember, our main bottleneck is getting data to the cpu fast enough that it's not idling all day, so icreasing the number of instructions by a large margin sounds counterproductive. It'll be interesting to see where it goes.
Except that by having fewer instructions in the ISA you may have to increase the number of instruction executed by the CPU which is what matters for performance/efficiency.
Has RISC-V made the good tradeoffs? We'll have to wait a long time (until someone tries to make a high performance RISC-V instead of glorified microcontrollers) to know..
Note though that the RISC-V is a cleaned up MIPS ISA beside being open it doesn't bring much novelty (nothing to improve security or GCs) with the (significant) exception of the (unstable) vector ISA.