The project is not cool. This is not a new idea, and there is nothing special.
Students won't use it as an example of porting code. I am not aware "porting code" is part of standard software engineering or computer science curriculum. That's not the kind of thing being taught in schools.
Companies won't switch to it unless their CTOs are either insane or incompetent.
I published similar project here: www.emuko.dev - emulator for RISC-V. This one turned out to be 3x as slow as QEMU for example.
re: CTOs - if the improvement is 3% nobody of course will look at it. If the improvement is 30%, it'll be too big for big players to ignore, so as a CTO you'll be tasked with trying it out. It's really a matter of whether this thing is safe and secure, losing data or has a trojan. If the authors can prove it's all valid working code etc., it'll be a viable project.
Sorry, as someone who has been involved in many of these decisions, I don't think you understand how any of this actually works in the real world.