Not only that. Emulators must often ”cheat” to achieve high speeds. This means emulators doesn’t try to achieve a 1:1 replication of what’s happening inside the hardware, but something that’s gives close enough results and better tailored for modern hardware.
The reason why N64 is particularly difficult is because each game must be optimized individually (due to the heavy reliance on microcode). The emulator must replicate the hardware at a much lower level for an accurate emulation of all games. Emulator developers can apply optimizations on each individual game, but it’s incredibly time consuming to do so for every game in the N64 library.
Emulating DK’s Jungle Parkway in MK64 goes brrrr