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It definitely could scale up. The question is who is willing to scale it up? It takes a lot less manpower, a lot less investment, and a lot less time to design a low-power core, which is why those have come to market first. Eventually someone's going to make a beast of a RISC-V core, though.
Who's willing to scale it up? China probably
Excl. Nation-states which have their own strategic reasons- NVidia, Google, Amazon, IBM, almost every single big cloud player are going to begin investing in RISC-V as it matures.
ARM charges a lot for its licensing and that's only going up in the near future. x86 is simply too expensive to compete for unless you're AMD or Intel.
At some point the Cloud CPU players are gonna jump on RISC for the cost savings, and the prospect of building their own platforms without licensing fees and lack of input on the direction of the ISA.
China is the main driver of growth in RISC-V currently. But we need to see how the trade wars will affect that. There was a recent news about RISC-V specifically in this regard.
We might also see more activity from Intel, Qualcomm and Nvidia.