Emulation is kind of in a legal grey area, and relies on the free labour of volunteers. Who’s to say that in 50-100 years’ time there will still be people able and/or willing to maintain the emulators? You could also argue that emulation is an imperfect reproduction of the actual gaming experience - emulators can both cause bugs or make the game actually run better than it did when it was released.
A friend of mine said he found it very useful on smaller screens to avoid having a bunch of windows taking up space