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I guess its not quite the same as ps2 with the huge install base the ps2 had but still you could argue many of the games were of higher quality than ps2 games. I guess ultimately there aren't enough people about that have a collection of original xbox games that might be motivated to buy a xbox one so they can continue playing the same games possibly to a higher quality level while also buying new xbox one games.

You wonder if it would be a commercially viable emulator that could be downloaded from xbox live at a price for perhaps a small percentage of users who would want that feature.

I'm quite a fan of the original xbox. Truly amazing console for its day with some brilliant games. I found the xbox to be a much better console than ps2. If I had an xbox one I would want a original xbox emulator if available but realise I may be in a small minority of xbox one owners who want that feature.