A sad day for emulation and open source advocates, and a reminder that Nintendo can and will destroy you if they see fit.
Hopefully their works will live in the saved repos just as ReVanced was able to live on after YouTube shut the original project down.
I think the difference with Dolphin is that it now emulates an extinct system(s), so it cannot possibly compete with the actual thing. They did have a close call last year, if I remember, and they pretty quickly went into “jettison all illegal shit out of the code base NOW.” -mode.