This seams neat, but I'm not sure I understand the purpose/difference between this and using the iOS simulator.
The simulator is a completely different OS. It may even still be using Intel.
I always figured that Apple never set up a true emulator (like what Android does), because they didn't want people exploring their OS with a debugger.
The iOS Simulator consists of (some of) the userspace components of iOS compiled to run on macOS. This would be a full iPhone image running as-is via virtualization.