fwiw, qemu is not always strictly emulation. On macOS, QEMU supports using Hypervisor.framework as a backend for fast same-arch system virtualization. This is also technically possible on M1 iOS devices (w/ forged entitlements) as you mentioned and someone actually did that recently
> UTM is supported on iOS 11, 12, and 13 for non-jailbroken devices through sideloading. UTM requires a jailbreak to use on iOS 14.