Is it true that this will uniquely position them to compete with Apple's processors while everyone keeps having to use the bog standard (and apparently not that

Is it true that this will uniquely position them to compete with Apple's processors while everyone keeps having to use the bog standard (and apparently not that amazing) Cortex cores? Are there other companies able to produce promising cores/any that could develop a serious M1 competitor? Was this acquisition mostly fueled by M1 hype (i.e. "Cortext chips are just fine")?