If Apple does this, it would doom them. Full-feature notebooks, imacs, and mac pros are NOT suitable for low end performance processors.
Think about it, why mess with success? Apple has built a huge empire by repeating their moves in x86 carefully year after year. If anything, they're closer to Intel than ever before with replacing low-end dGPU stuff with Intel IGP (bumpgate to start and the desire to get smaller/cooler/thinner/more power efficient all rolled together make this a no brainer).
Play it out :
(A) - Apple achieves some kind of low-end sub-i3 chip, running a different architecture and manages to get OSX to emulate x86 to run standard apps. They replace the Intel options in low end and macbook air type devices. What do they gain? A small amount of margin on a per-unit basis? The chips R&D, the huge work needed to make OSX and the software work, the custom entire new board/bios designs, all of that would cost HUGE money. It would probably actually lose them money if anything. And customers would go from high performing 2015-era models to units that perform more like 2007 models. Lose/lose.
(B)- They keep using Intel stuff for their full-OS products, and continue to stack crazy cash with that winning recipe. Performance is never a question, no ludicrous amount of R&D needed, and they can continue to expand their Ax line in their ipads, iphones, and idildos, which will continue to make them silly money on that side as well.
If anything, what Apple's main concern has to be is getting stalemated at the business level in terms of growth, and their receding influence in digital media. The Apple TV underperformed, iTunes is receding, and they don't seem to have a plan in place to prop that up. People forget that Apple's relevancy today doesn't even have anything to do with Macs, or even the iPhone itself. What put them on the map from doom to huge paydays was the iPod and iTunes. The iPod was what sold people on the iPhone, and then the iPad. Now iPod is basically irrelevant, but iTunes and that continual stream of cash is declining, so they have to find a way to expand their digital empire, not see it diminish.
And juggling in-house chips vs. Intel chips for the MBA/MBP/iMac/etc world is a wasted effort. Even if things went absolutely perfectly, it would be massive effort for little gain, and they'd risk completely being shut out of the business market, and much of the consumer market to boot. "Hello business sir, would you like to consider a MBA with the power of a potato, or this Skylake i7 Surface Pro 5?" Derp, derp.