AFAIK that’s one of the goals of the ARM (and maybe eventually RISC-V) architecture. It’s doing well on mobile and the low consumption is needed for a future that will require less energy. Or at least, do more with less. Having ARM desktops would also merge the mobile and the desktop environments.
Apple has moved to this architecture, and software wise, Linux is very compatible too. Even Microsoft knows and is trying (clumsily) to move to ARM.
The Pi5 will indeed open new possibilities on that front.