Maybe, but archive.org has listed this exemption on their website for years as their rationale for being able to distribute ROMs for dead consoles and it has to

Maybe, but archive.org has listed this exemption on their website for years as their rationale for being able to distribute ROMs for dead consoles and it has totally remained unchallenged AFAICT. Copyright enforcement seems often "use it or lose it" SPAM didn't act fast enough to protect their brand, and once it became commonplace as a term for internet garbage it was considered too late to enforce. Unless someone like Nintendo makes a new Super Nintendo that can play original cartridges, I don't expect they would do well in court trying to enforce given the exemption and after doing nothing for so long at this point. I study IP law academically but IANAL. With that said, I think we are honestly at a free for all at this point, and the more people that host ROMs openly, the worse the case against them gets.