If you want to 'port things' would it not be better to port the whole OS onto commodity hardware?"
Would it be better? From the remaining commercial players point of view , it's probably not so great, commodity hardware means little profit for the hardware manufacturers as they can be easily competed against, driving down prices. The software developers would have to do lots of recoding work based on a CPU architecture change (many times the amount of effort the 26->32 addressing changes required) and have absolutly no guarantee of the 'massive increase in potential users' that porting their software to Windows would bring.
It's not a bad idea, it's interesting technically and kind of fun, but I wouldn't expect lots of companies in the RISC OS market to push for it.
 And just the commercial developers point of view, from a users point of view faster and cheaper hardware is great.