Perhaps, but perhaps not. I don't trust Apple to innovate at this point in time -- they're entirely focused on visual design.
The problem is that this switch doesn't make sense really. Unlike the Intel change, which was prompted by PowerPC development failures (thanks to Moto/IBM), switching to ARM confers no real benefits aside from power consumption and a greater control over chip die and architecture. It's not like the ARM chips are going to outperform any regular Intel chips (Atom aside) -- Intel is currently king. Intel will likely stay king as well, and with next gen chips around the corner, what then? Would it really be prudent to switch to ARM considering all the pain that comes with it?
Also, if we start getting into a segregated OS bit like MS... oh man. Anything that's gimped is destined for failure (like Windows RT...).