I'm excited for the day that I can easily install SteamOS (the modern one that runs on the Steamdeck) on an M2 Mac mini for an insanely powered "Steam console" for my living room TV.
Things are certainly looking better than they did a couple years ago, but getting ARM to run x86 code faster-than-native is an uphill battle. Maybe even an impossible one, but I've been surprised before (like with DXVK).
[0] Crysis on a Rockchip ARM SOC, for example: https://youtu.be/k6C5mZvanFU?t=1069
Not having any experience in that industry, I wonder what the driving forces of this are. I suspect it's some combination of incredibly brittle codebases that cease to build if glanced at the wrong way and aversion to spending anything on games post-release.
The primary reason is that there's no money in it. Like movies, your "one shot" game (without some sort of continuous billing e.g. mmo, subscription, continuous stream of DLCs) makes most of its revenue in the first few weeks, and once the kinks are ironed out what it makes afterwards doesn't really depend on maintenance.
Additional maintenance doesn't pay for itself, the producer doesn't pay the devs for that, and thus the devs take on the next contract to pay the bills. Not to mention additional maintenance is a risk.