I mean, this is a Windows emulation layer. It's just designed for game developers to be able to quickly see what a rough version of their macOS port would look like. Like, does translating your game automatically yield you 40 FPS, or 4 FPS? Valve's emulation layer on the other hand is designed for end users to be able to run games without a native port.
Right but it's open source apparenty, and there's already efforts to create GUI etc to make this easier for end users.
Even if it doesn't run Cyberpunk at full speed, you'll have a huge catalog of indie games on Steam and older games that will run at full framerate without requiring any ports.
True, the main gotcha here I suppose is that Rosetta is also on top - since we're looking at Apple's ARM CPUs. Rosetta can translate and store the code so it doesn't have to do it every run.