I'd say its global benefits aremore economic than political. Though the political side probabyl didi prompt China to pour vital support into risc-v.
You said it yourself about more competition, and more competitors, better value for money.
and probably knock on pressure on arm and x86. more and bettter niches too probably.
I think it's already impacting for Microcontrollers.
For consumer/CPU market probably we just want to see more work on at least onne decent user OS (like debian for raspberry pi/arm) and a decent range of packages getting compiled on it.