Nintendo mainly goes after Switch emulators, since that’s their current system. Also, their legal angle is that certain emulators circumvent DRM (like cg/wii or switch emulators). Rom patches for 30 year old games should be fine, as long as you don’t distribute copyrighted content.
I don’t have faith, I try to unnerstand their actions and tactics. And I dislike nonsensical arguments mainly informed by gut intuitions rather than thinking for a second.
Illusion of Gaia/Time is not a Nintendo IP. No copyrighted material is being distributed. They can’t even legally takedown decompilations of Zelda and Mario. What makes you think they’ll go against a completely and unquestionably legal romhack of a 30 year old Quintet game?
You’re describing every company.