Early emulators had to emulate the super funky hardware that early consoles had. Now a days consoles are pretty similar to consumer computers (I though the switch was basically a Nvidia Jetson) Is the emulation now more like Wine - about providing the necessary APIs and then running on a VM, or is there actual hardware emulation ?
The bigger problem is the GPU, it's an Nvidia Maxwell GPU but uses its own custom API made specifically for the Switch (internally named NVN) so a full translation layer including shader recompilation is still necessary.