I think it's not correct to say 'Wine is an emulator', as its name suggests it isn't. Both programs are x86-64 and they run natively; they just call different A

I think it's not correct to say 'Wine is an emulator', as its name suggests it isn't. Both programs are x86-64 and they run natively; they just call different APIs, backed by glibc or Wine, and eventually lead to (maybe different) syscalls to the Linux kernel. This also means they run on the same, physical hardware.