The goal of N64 emulators (generally) is to accurately recreate the behavior of the original console.
Conversely, there is a large crowd of people who just want to play SM64, OOT and MM with a bevy of "graphical enhancements" like 60fps, widescreen, texture packs, randomizers, etc.
For these people, the fact that these games originally ran on the N64 is practically irrelevant. In fact, it's a hindrance; The N64's graphical pipeline is cumbersome to emulate and actively stands in the way of modern 'enhancements.'
This project is more aimed at giving the games themselves modern treatments, removing the N64-centric aspects of the games from the equation entirely.