Ever heard of an emulator for current-gen games that work? Me neither.Quote from MaGicBush
Ever heard of an emulator?
The only reason 2013 PCs can emulate games from, say, the PS2 is that current technology is immensely more powerful than the ones we had in 2000. Even so, many modern emulators will still have problems with some of the more advanced PS2 games, such as Shadow of the Colossus. This is the same reason that certain consoles are capable of playing a selection of games from the previous generation. Either the console didn't change enough in architecture from its previous generation, or the game being played is not so demanding that emulation is impossible.
Emulation isn't simply making a program and bam, software from other machines work. It requires similarity of hardware and significant technological advances. Hardware is also notoriously... painful to emulate properly. There's a reason that even N64 Emulators aren't perfect right now.