I don't think any "ASIC resistant" algorithm would be desirable to implement. All it would do would be to make it more difficult to develop ASICs, and there is always the risk that the person advocating for a particular algorithm has already done some research on how to create ASICs for that algorithm.
So far based on what I've seen ASIC resistant meant you can't use bitcoin SHA256d ASICs to mine that algorithm but creation of an application-specific integrated circuit (ie. ASIC) is very well possible. Even those that tried using more memory with memory expensive algorithms ended up having ASICs.
While i agree with your statement, very few ASIC-resistant perform rather well. For example, developing Ethash took long time and Ethash ASIC efficiency isn't very big against GPU (if you compare efficiency between GPU and ASIC with different ASIC-resistant algorithm). RandomX also looks promising, but time will tell how well it perform.
P.S. Do we even want an ASIC resistant algorithm?
As long as there's multiple competitor on SHA-256 ASIC, i would say no.