RISC doesn't imply wasted instruction space; RISC-V has a particularly interesting thing for this - with the compressed ('c') extension you get 16-bit instructions (which you can determine by just checking two bits), but without it you can still save 6% of icache silicon via only storing 30 bits per instruction, the remaining two being always-1 for non-compressed instructions.
Also, x86 isn't even that efficient in its variable-length instructions - some half of them contain the byte 0x0F, representing an "oh no, we're low on single-byte instructions, prefix new things with 0F". On top of that, general-purpose instructions on 64-bit registers have a prefix byte with 4 fixed bits. The VEX prefix (all AVX1/2 instructions) has 7 fixed bits. EVEX (all AVX-512 instructions) is a full fixed byte.
Also, x86 isn't even that efficient in its variable-length instructions - some half of them contain the byte 0x0F, representing an "oh no, we're low on single-byte instructions, prefix new things with 0F". On top of that, general-purpose instructions on 64-bit registers have a prefix byte with 4 fixed bits. The VEX prefix (all AVX1/2 instructions) has 7 fixed bits. EVEX (all AVX-512 instructions) is a full fixed byte.