I guess how well it goes will depend on how easy it is to use the arm core(s) with your custom logic, and how easy it is to get to everything you need to from your code... if it's easy to generate good hw API, and integrate with good arm toolchains, maybe it's worthwhile sometimes, assuming the soft arm is similar in resource use to similar existing options. there's plenty of existing options for running processor cores in your digital logic for programatic applications when you need something like that, so for this to gain a share of that space alongside the solutions that everyone already uses and knows, you'd want to see some advantages rather than just arm brand recognition....
Seems to me that if you're considering one of these M1 or M3 cores to be the bulk of your design in a regular small FPGA like a Spartan or artix, well, you'd be far better off with microsemi smartfusion (or maybe even cypress psoc if the digital design requirements are simple enough...)
Also don't forget the big A series processor zynq (and the newer A53/R5 cored socs) has another big advantage over straight FPGA. It also has a dedicated DDR controller... Very valuable if you have an application that needs a lot of memory storage coupled closely to your digital hw design, like lots of FPGA applications seem to.