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Usually, emulation is pretty hard on any system and, unless NX uses a similar architecture to the Wii U, it will be near impossible to pull it out.

Concerning the Xbox, I understand backwards compatibility is not running on emulation. The Xbox One uses only the assets, such as geometry and textures, from the disc and get the executables from the Microsoft's servers. The trick is that the Xbox team was able to create a program that interpret the PowerPC code of the 360 and write a new executable for the x86 architecture of the Xbox One. That is a pretty amazing feat and I would be surprised if Nintendo and Sony, which are not software companies, could replicate it.