While I agree with spins, I don’t agree with overall judgement.
M1 chips were a boom for Apple from day 1 even almost all 3rd party software was not optimized.
So this can significantly ramp up the experience of PC laptops. Of course it is very unlikely to push them above Macs, but the race may be more interesting.
Rosetta only analyzes startup sequence and caches that translation so that it doesn’t have to be computed every time. Everything else is even technically impossible and is a simple emulation.
One thing to note is that M1 chips have few tricks to provide faster emulation. But Qualcomm can do the same.