There is an exception for apps with JIT and those will perform poorly (think Chrome and every Electron app).
Just because binary translation is used doesn't mean it's magically as fast as native code. Converting code that runs on architecture A to run on architecture B always has corner cases where things end up a lot slower by necessity.
Nonetheless, the translated code is going to be slower than ordinary native code because a lot of the information compilers use for optimization isn't available in the resulting binary, so the translator has to be extremely conservative in its assumptions.
https://mobile.twitter.com/hhariri/status/132678854650246349...
And most use electron-builder which does not have Mac Arm support. Expect super slow mode for a while!
You're also going to be in a bind if Apple decides they don't care about the long tail and stops supporting emulation before all of your plugins have been converted (if they ever are).