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You always see these so-called "recompilations" for consoles that have emulators already. I'm not checking this entire list, but the first item on it fits the pattern I've seen every single time: it compiles an emulator into the binary. In other words, this is a lie being sold to you.
> GCC then compiles that together with a runtime that stands in for the rest of the console

A change of language in this new generation. I would call this an emulator that does translation ahead of time instead of the normal JIT. Ahead-of-time translation is now called recompilation, apparently.