Except the people actually writing or talking about real “emulators”. You know, for things like NES or Gameboy on x86, x86 on WASM, etc.
Sure, you can argue that VMs or Wine are emulators in the broadest sense, but then I could argue that your CPU is an emulator too since it doesn't really runs ASM, and with that very loose meaning almost anything computers related is an emulator. And in practice that's never what people mean when we're talking about an emulator. (Even this thread started with the wrong postulate that WINE must have incurred a performance penalty because the commented believed it was an emulator).