Apple warns that developers are “responsible for all such software offered in your app, including ensuring that such software complies with these Guidelines and all applicable laws.” This raises the question of whether anyone can release a game emulator or only the companies that own the rights to the games distributed for it.

A good move, and great for distribution, but this does look like it’s difficult to publish an emulator unless you could control the games too. I don’t see this clearly permitting a general purpose emulator. It’s possible, but knowing Apple, I would expect that this could let Nintendo publish an emulator but not necessarily an open source project.