Sadly emulation is seemingly non-existent for newer consoles like PS4 and Xbox one (PS3 is pretty emulatable but fairly demanding, Xbox 360 emulation is last I checked still pretty poor) Luckily most of the games on newer consoles are released on PC.
I remember ps3 emulation a few years ago was determined too hardware intensive, nowadays it can be done on mid level hardware. PS4 and Xbox One is going to happen, just depends on when.
We need devs, like the maker of the Falcon 4 game to “leak” source code. Its the only reason the worlds premier combat flight sim run on a game released in the 90’s.
Should I be talking about a game that released the same year I was born? No. I’m so glad someone kept it all.