Right but laws are only as good as their capability to enforce.
If I were to start an emulation project today I would mask my identity and try to do a better job of it than the silk road guy.
It's a shame ryujinx and yuzu were functionality killed when Nintendo got to the founding developers. There's contributions from other devs but I guess like with a lot of FOSS there's often just one person upon which the entire stack survives. Maybe the biggest projects like Linux and python can survive without their BDL's, but these emulators certainly haven't been able to, and that makes me sad.
I would love to take up the mantle of one of these but I don't know the first thing about emulation programming.