Series X/S owners now have to pay for dev mode to reactivate emulation.
And surprise, wouldn't you know it, Nintendo strikes again.
https://www.theverge.com/2023/4/7/23674707/microsoft-xbox-emulators-ban-nintendo
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I don't think they'd try to extend this to PC, and they certainly shouldn't be permitted to do so. The PC ecosystem is built on the assumption that you can run arbitrary code; turning Windows into a walled garden is the level of anti-competitive behaviour that might literally start a war.
It will take longer, but the existence of Trusted Platform Module tells me that future roadmap for consumer electronics is for the hardware itself to be built to allow corporations to monitor and control what you can run on your machine.
Don't like it? Build your own microprocessor ;)