saksdal hit the nail on the head.

Also, I understand completely that the communities competition is focused almost exclusively on N64, but know that removing the fastest version of a game, when the object is the complete the game as fast as possible, is seen as completely moronic in most speedrunning communities. This is really the only game I know of that focuses it's competition on a slower version just for the sake of "better competition." However, that seems to really not be an issue anymore considering that over time the community has accepted that the competition must play SM64 to be relevant. This will be the case until someone gets a VC time that is unattainable on N64. Even then, unfortunately, people would complain that the time would not be WR because it's on the fastest version instead of a slower version that was forced onto people in order to be relevant competition, even though VC is an official release.

I can understand emu not being legitimate, but any serious runner will eventually play on console.

Like saksdal mentioned, the bigger issue here is making runners think you shouldnt run on VC or emu at ¤all¤. Don't do that