Rosetta's goal is to support legacy Mac apps. It's quite finely scoped, but I hope Apple will go above this and make it available as part of their virtualization framework. This way e.g. Parallels and Docker could use this to provide some way to tap in probably the fastest way to run x86 on ARM Macs. This would mean Rosetta would go beyond its stated scope, and certainly go beyond what the relatively short-lived Rose…
FWIW they showed the latest Tombraider game running on Rosetta on a dev Mac said to be using the ARM chip from the high-end iPad. It ran pretty well. Not sure if I would quite count this as AAA
Certainly static recompilation yields somewhat-close-to-native performance when it is available, but that is not possible for x86 "VMs".