Microsoft currently has 32-bit-only x86 emulation on the ARM-powered Surface X and the reviews aren't positive. I don't know if it's actual emulation, trap/HLE emulation, dynamic translation, or something else - but Microsoft takes backwards compatibility far more seriously than Apple does, and if that's the best Microsoft can do, what hope does Apple have?
While x86 and ARM's ISAs are fundamentally different (y'know: CISC vs RISC) but given that x86 CPUs today are generally implemented using RISC microcode - could x86 be emulated by instead translating x86's RISC microcode to ARM?
I realize another alternative exists: Apple could buy-up cheap, low-power Intel x86/x64 chips (like an i3 or something) as a co-processor to the primary ARM chip and only use the i3 if ARM-based emulation is too slow for a given process?
Seems like a lot of work would need to go into moving existing macOS apps to touch friendly interfaces if that were the case. I’m using a Bluetooth mouse and the cursor is finger sized.