Even if, for the sake of making the argument as clear as possible, the developers were to release a completely functional version of CEMU that runs BotW at 4k/60 with game-specific improvements tomorrow, there would be absolutely nothing wrong with that ethically. I mean, what would be the ethics they are violating?
Come on, it's not that hard to understand. Sure, "there's piracy anyway" and "not ALL emulator users are pirates". That's obviously correct. But it is undeniably making piracy a whole lot easier and for a much larger audience. Just saying "it's not our responsibility how people use it" is not going to make it OK ethically.