There is another important difference: there was no GPU back then (and QuickDraw was not very suited to GPUs. OSX changed that).
Applications where CPU time was mostly drawing on screen (e.g. text editors) worked a lot better than those where most CPU time was in app code. Today the GPU and graphics code is an even larger amount of the processing.
So for a lot of apps it will not be a big problem if the emulation is a bit slow.
Applications where CPU time was mostly drawing on screen (e.g. text editors) worked a lot better than those where most CPU time was in app code. Today the GPU and graphics code is an even larger amount of the processing.
So for a lot of apps it will not be a big problem if the emulation is a bit slow.