There's a lot less emulation to do though because it's still running on x86 and the same graphics chips so the main emulation are the wine system calls and proton that handles the graphics calls. Running the same on the M* chips you're switching entire architectures and there's just not the history there to support the work. Proton drastically improved Linux gaming performance and it's largely from Steam investing money in it to avoid being locked into Windows if Microsoft ever tried to wall off the Windows garden to demand a cut of every store on the OS like Apple does with iOS and friends.

This is true, though it's Proton, IIRC and Valve is much, much better at writing software around games than most are.

I wish that Apple would throw a few nickels that way; Apple Silicon is almost wasted without a decent games library. It would realistically be my only computer if that were the case.