So I'm not overly familiar with either JITs, Apple's policies or emulators, so this may be a stupid idea, but I was thinking: Apple
does allow exactly one JIT on iOS, in its JavaScript engine. What, technically, is preventing anyone from writing a recompiler from PowerPC machine code for the Wii to ASM.js (or even WebAssembly) and then throwing JavaScriptCore at it? It's not gonna be as fast as a recompiler straight to native code I guess, but could it be significantly faster than interpreting?
From some quick Googling, it seems like JavaScriptCore is running with the JIT disabled in most apps, but surely e.g Chrome is running with JIT enabled. Convincing Apple to let you use JavaScriptCore with JIT enabled might be easier than convincing them to let one run one's own JIT.