There is one strong argument for emulating current Nintendo (specifically Nintendo) hardware: Game and console preservation.
Nintendo has a long habit of stopping console support and games become harder or impossible to buy; waiting for a Nintendo console to reach end of life before emulating and dumping the games means that some games are going to be missed. Also, emulating currently supported consoles allows for things like archival records of system OSes to study how they changed over time. (Because in 100 years, some graduate student will study how 20th and 21st century video gaming companies handled security updates).
Nintendo has a long habit of stopping console support and games become harder or impossible to buy; waiting for a Nintendo console to reach end of life before emulating and dumping the games means that some games are going to be missed. Also, emulating currently supported consoles allows for things like archival records of system OSes to study how they changed over time. (Because in 100 years, some graduate student will study how 20th and 21st century video gaming companies handled security updates).