An answer in search of a question
I don't think anyone actually wants Windows on Arm. I think people want all the Windows only applications that they've become wedded to (sometimes via shotgun, admittedly) on Arm - and the thing that keeps coming back time and time again with Microsoft's attempts to push this is that they won't get that. They'll get some vaguely-similar-but-not-quite things plus that stuff that was trivial to emulate - so didn't actually need Windows in the first place.
It's not Windiows that sells Windows. It's the Windows application ecosystem, and this doesn't get us that.