I wouldn't say perfectly legal. Nintendo doesn't allow it for one

According to any Nintendo game manual:
Copying of any Nintendo game is illegal and is strictly prohibited by domestic and international intellectual property laws. "Back-up" or "archival" copies are not authorized and are not necessary to protect your software. Violators will be prosecuted.

This can be overidden by local law, for the US

https://www.law.cornell.edu/uscode/text/17/117

(a) Making of Additional Copy or Adaptation by Owner of Copy.—Notwithstanding the provisions of section 106, it is not an infringement for the owner of a copy of a computer program to make or authorize the making of another copy or adaptation of that computer program provided:

I don't think Nintendo can do diddly squat about emulators...as I said earlier, DraStic is $5 for years on Google PlayStore, still regarded as best DS emulator.

Whether you play games on old hardware or emulation, you aren't supporting the anybody but the people selling that stuff. Also, there are many games that would be very expensive or impossible to play without emulation. For example, thousands of arcade games.

The only time I really feel emulation is bad is when you're playing modern titles that just released. Which has been an issue for Nintendo.

Copying a game is illegal.
Emulating a game is legal.

That's been tested in court. Aka. Bleem vs Sony.

Some countries like Australia (And a large chunk of Europe) have made it legal to make backup copy's of media you already own.

Some like the UK allowed for the creation of backup copies of Media provided you do not circumvent any Copy Protection schemes... Sadly. Even that has been made illegal now.


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You are right though, in the case of Emulating Breath of the Wild currently you do need to rip the game for CEMU to play nice with it... And the legalities of which will vary from region to region. (I.E. Legal for me. But maybe not for you as Canada tends to follow the US on these issues.)
Eventually though, CEMU will likely support running directly from Optical Disks, but it's early days yet.

Nintendo can say whatever it wants, it's EULA/ToS/Policy does not override your consumer rights or the legal system. That's a fact.

One thing is for sure even if they don't admit it, Pc master race Pirates loves to emulategames.

Why is pirating new games not okay, but old game is?

I am not talking about Panzer Dragoon 1 but Panzer Dragoon Saga, which was only released on the Sega Saturn.

Ah I see in Australian law you're allowed to use a copy if you store the original or if the original stops working, as long as you're the owner.

There's one more step to be tested in court. Does use on an emulator fall under normal use of a copy. I doubt Nintendo wants to test this in court. It can only lead to one thing, bad PR or the subsequent move to have to be always online to play any title :/ And people are already asking for a Switch with 3G, careful what you wish for.

Edit: Nintendo ofcourse doesn't really care that you run your own copy in an emulator in your own home. It's just too easy to run pirated copies in the same emulator. The only thing they can really do is to go after torrents, time consuming, costly, bad PR, not worth it as long as it's not a big problem. As long as you don't file share or download roms you don't have anything to worry about. Although you could still get targeted for downloading the software to make a copy if that circumvents security measures. I doubt that will happen. We're already well underway in the transition to digital licenses instead of owning software anyway.

Legality depends on the country or even specific region of a country you live in.

As for moral reason, I would say it would be moral so long as you own the game and the console. I would even go as far as to say, if you do not own the game for the particular console (but you still own the console) but own a legitimate version of it that is being emulated on another system (for example, you have a Sega Genesis console but you do not own Sonic for the Genesis but instead you own the Virtual Console version which is a direct emulation of the Sega Genesis version) then that would also be moral. The only cases where I would say it is immoral is if you do not own the original game, the console that is being emulated, or you do own the original and are emulating a modified new release that you do not own (like a remake).

Where did I say pirating old games was ok?

It's not wrong.  It's illegal.  Two different issues.  Your game.  Do what you want with is as long as you aren't directly profitting from it with the exception of selling it to someone else.