That’s just building a unit to spec using an fpga instead of a chip fab. If it’s a 1-1 copy, emulation would not appear to be the correct term.

If I have a black box chip that takes in 3 bits and spits out 3 based on the input. If I make a bit perfect implement of it, but my chip has additional outputs that correspond to unused input, hence never used. Is it still considered emulation? It differs minimally in a negligible manner.