A z80 implemented as pure software is exactly as "real" as one implemented in gateware by that reasoning.

If you implement all the same logic, then it's all the same logic, and by your own logic, the implementation medium doesn't matter.

Performance may differ but that's a seperate facet from "real" if you are going to allow hardware emulation to count as "real".

Even though a gate provided by an fpga is hardware, it's totally different hardware from that same gate in a native ic. You just get a very similar outward effect, IE, a very good emulation.

This conversation is stupid.