Everybody is commenting on possible implementations or how similar solutions already exist. I would like to focus on an overlooked but very important fact: most of the important software in the Linux ecosystem is opensource. Yeah, the ELF binary from 20 or 25 years ago might not run anymore out of the box but you have the source code, access to the whole history of source code of needed libraries. It will for sure not be a 0-effort adventure and it will not work with proprietary and closed source software, but it's doable for most of Linux old abandoned software.