Software on chips is software on chips. The difference between an emulated machine and on running on old hardware is that the machine running in emulation is more compatible than the one running on old hardware, UAE can produce any Amiga ever made at the click of a mouse, it will display on any screen. It's the dream Amiga.
Bogus analogy to begin and the rest is, again, subjective. Emulation is software on chips in software. For some of us, the fun is in building the dream Amiga: collecting the individual components which may or may not work, the thrill of firing it up with child-like anticipation and then taking it for a "drive."
Or, screw it, you can kill all of the magic and just throw a switch.
There are people who just want things to work, and there are people who want to make things work. To each his own.