Someone else will know the details a lot better, but Apple has changed the licensing details on many of its older OS X versions to legally permit virtualization if the host is a Mac. Which OS version images I can download for free in the store right now appear to be linked to which ones I had ever used under my current Apple Store account.
Given that a lot of current Macs come with only 8GB of ram it is not ideal to run a lot of applications in a virtual machines, but applications that need much RAM have almost certainly moved to 64bit anyway.
Again, someone else will understand it better, but I think products like Veertu were built on Apple's built in hypervisor framework, and it would not be difficult for people to build additional free virtualization options in MacOS. My point is that the reasons for choosing Linux over MacOS are already sufficient without targeting users of older Mac software, and that people who are using older Mac software probably also use new Mac software, and won't have too difficult a time using the older stuff too.
A while ago I would have said that something like Wine would be great for using the best software I can ever remember which only ran on early Macs. Except that these days you can do that in Javascript in any browser, and while the software was good, I've already spent a few weekend afternoons playing with them, and I don't need to anymore.
I miss my 32bit iOS games more than I'd miss any 32bit MacOS applications, which I could run anyway through virtualization. I also wish they'd stop disappearing features from Apple software in general, but I think sunsetting 32bit apps or Carbon are generally better for the Macintosh ecosystem.