Risc v is an instruction set architecture not a chip design, the actual hardware implementation of any given risc v processor won't necessarily be open source and available to all, it's just a guarantee that if the spec is implemented then code compiled for risc v will run on a RISC V processor.
China has had access to x86 for years, they've not been able to implement a chip on par with current gen AMD or Intel chips.
I wonder about these fuckers, like what is wrong with them. I totally understand theorising about this crap, it wouldn't be the first time I'd been down a line of thought purely thinking about "how could I maximise this" or "how could I solve this problem" but at some point I take a step back and "wait no, this is a horrendous idea" occurs to me. And then there's this twat who thinks "oh yeah, we should extract as much money from paying customers as possible and then we'll do it in other industries" and says it like they think everyone is going to think it's a good idea.