I feel like Qualcomm is bloated as a company and also overly corporate/restrictive. I understand they have IP to protect, but other companies have shown it can be done at scale with a much more open mindset. If Qualcomm ends up winning using some kind of proprietary tech, it wouldn't be a big win for everyone. Another Apple, in a way.
Because they're a more closed ecosystem that encompasses much more of the stack. Intel is a small part of the whole stack and they have a proper competitor. Smaller slice of the stack + more competition = less tech dominance.
The fact that M1/M2 can run something is almost irrelevant. It can because Apple allows you to run it and can stop that at any moment. It wouldn't be the first time they would decide something like that out of the blue.