Unless a project is going viral in the media, raking up in a significant amount of money via a paywall or is directly competing with a current game, the chances of it getting shut down are incredibly low.
The courts have told Nintendo numerous times that they are in the wrong in this behavior and outlook. They have no legal means to keep Dolphin off Steam and it is a matter of judicial record that emulators are not an infringement of your IP on their own. Nintendo doesn't care and openly discusses their intent to make you suffer through lawfare. A just system would smack them down with a vexatious litigant label, but our system gives businesses infinite benefit of the doubt.