If it's done well it is successful. Rosetta 2 is great and it works while Windows emulation sucks for various reasons(for example it wasn't possible to run 64 bit apps until one year ago). The problem is that not enough companies are interested in doing it well.

To where? The chips only started existing with M1. No one has actually had an attractive processor unless you either count Itanium being good on some workloads or maybe some RISC machines a very very long time ago.