Earlier quoted context omitted.
Not under 1201. They can form a copyright circumvention device without being subject to copyright themselves as long as they're used to protect an actual copywritten work (in this case the encrypted game images).
Doesn't this use case fall squarely in the realm of the exception for the purposes of interoperability?
So with Yuzu's patreon funds, it's very grey at the moment, which is probably why Nintendo decided to take aim.