Are you arguing that intelligence is not physical? Could you name a single thing in existence that fundamentally cannot be linked to physics?
Even though every NES in existence is a physical system, you don't physical level simulation to create and have a playable NES system via emulation.
1) intelligence and consciousness seem to be linked and we don’t understand consciousness. It may be physical but not purely chemical and classic physics.
2) Even if it is purely chemistry and classic physics, the development process may matter. Whole brain simulation may get you a simulated lump of flesh with no electrical activity.
This is a trivial question to answer.