Yes, which is where it gets confusing because the PS3 is the only example of pure, total, direct emulation backwards compatibility. I'm not sure how it works or what makes it different. Maybe it's because the process of emulation is different, from what I've read the Cell can simulate the PS1's processes itself so PS1 games basically run on a virtual PS1. Where when it comes to stuff like PS2 Classics, each title has its own enclosed emulation wrapper (this may be wrong).
All other BC is either direct hardware (WiiU), system emulation (Vita for PSP and PS3 for PS1), or wrapper emulation (Xbox One for 360).