Is the emulation layer thin enough for a non-stupidly specced computer to run stuff? Or is this more of a theoretical/advancing for the future thing?

There's also a Switch emulator that's being made for the PS5 that's a port of Eden. It's called ProsperoEden and can already run some games [1]

[1] https://www.youtube.com/watch?v=QXGiTuSAZ5o