I saw a really cheap MacBook Air deal the other day and was tempted until I saw they're i3 based. Assuming App support, I could see them replace that with an ARM based CPU without anyone noticing.
68k->PPC, PPC->PPC64, PPC->x86, x86->x86-66, arm->arm64
More practically, the transitions so far have been like this: 68k -> PPC (With full 68k emulation) -> x86 (with partial PPC emulation) -> x86_64
Then there is the NeXT side that ran on 68k, x86, PA-RISC, and SPARC
Of course OS X was the foundation to iOS
I think the forced death of 32bit apps last year entirely in preparation for moving to ARM.
You probably mean this is so they're not in multiple transitions at once. Something to note here is that Microsoft's x86 emulation only works for 32 bit apps (a processor limitation?), but with Apple having more control over their chips (and no knowledge about the exact issue) I could imagine them having it solved.
(Of course, there are always difficult cases that will take lots of work)