However, Intel has used their advantage in process technology to throw massive amounts of transistors to make up for the problems caused by all this complexity, and has done well. RISC has done well in the mobile space because those transistors tend to be power-hungry, but everywhere else x86 is today almost the only game in town.
One reason it's especially funny is that "HLT" is one of those legacy instructions that has pretty much no use in a modern system, yet takes up a whole slot in the byte encoding, while common operations like MOV or ADD often require extra prefix bytes to specify the size of the operands.
Hope that helps!