The only advantage CISC had in 1995 was intel’s fabs.
The advantages RISC has are the same advantages it always had. X86 requires much more complex instruction decoders with microcode sequencers and microcode ROMs, much more complicated pipelines, much more complicated load/store logic, much more complicated branch prediction to compensate for the more complicated pipelines, etc. All because x86 allows writeable instruction streams, variable length instructions, ALU instructions that directly address memory, etc. For all these reasons RISC cores are much smaller than x86 cores. This allows greater clock frequency if you want it (because electrical signals travel at about 6ps per mm in a chip), less power usage (fewer switching transistors, so less charging of capacitance - power = cap * V squared * frequency), fewer gates between flip flops (which also allows higher clock frequency if you want it), fewer pipe stages (which means less of a penalty when you guess wrong on a conditional branch, etc. ARM also has more general purpose registers, which means fewer load/stores (with their inherent multi-cycle penalties), etc.
And that’s just the start of the technical advantages.