

More competition will ensure the oligarchs to behave.
I don’t trust the EU tech owners, but I recognize that they are at an disadvantage to the US counterpart (and nationalism is a useful tool to sell their product) so they won’t be making overt moves to dismantle European democracy.
Feasible, yes. Practical, hard to say. Good idea, yes.
RISC-V is open-source architecture based in Switzerland (although it started in University of California).
One thing going for it is China is spending billions a year towards RISC-V adoption so they do not get sanctioned by the US. You need money and engineers working on it towards these type of open source to compete with existing players.