For example: "What would happen if all companies blocked individuals from doing what they want with the hardware they bought?" You get a hacking community and people imprisoned for the unlocked hardware they paid for. Not to mention a whole lot of ewaste that could otherwise work for years.
No, that's not a good example. How about this one: "What would happen if all companies opened up their hardware and stopped forcing people to upgrade for no reason?" Eutopia, that's what! Less ewaste. Less consumerism. People can actually use the hardware they paid for the way they want to use it.
This argument has been (ab)used since piracy has been a thing. I'm not aware of any company going under directly because of piracy, especially not just because of emulators. If there is one, I'd love to know, but even so, the numbers is negligible. Also, emulation is not the same piracy. While emulation can be used for piracy, it is not the main use case.
Corporations like Nintendo are not your friend.