I support emulation.
A lot of titles from previous generations are now very hard to come by and outrageously expensive to boot - this is especially true of Nintendo games - so if companies are unwilling to make them available on current platforms (I would even settle for digital-only ports, which I can't imagine is as much hassle or expense as releasing physical copies or remasters) then I do not see why I shouldn't emulate them. If there is no VIABLE alternative, why should I go without?
As for licensed emulators, like these "mini" consoles they've been making...I do not support those at all. They're shamelessly bad cash grabs that should not exist at the expense of putting these games on the digital storefront. I'm looking at you, Nintendo. I already have a console, thank you, and I'd much rather play games on that, and there is no reason whatsoever why I should not be able to. I don't approve of being charged extortionate sums of money for a separate machine with a bunch of preloaded games, many of which I will never play and am not interested in.
Emulators offer something that companies are unwilling to provide me with these days: convenience. I can play everything all from one system, which is really all I want to do. I would happily pay for the privelege of doing this, and I have done many times in the past: I have PS1 and PS2 classics on my Sony platforms, and SNES classics on my New 3DS. But if companies don't want my money...well, not much I can do, really. Just going without older titles, or paying a scalper a disgusting sum of money, doesn't sit well with me.
My stance only applies to past generation titles, though - generally I purchase new games I'm interested in, or I wait for a price drop. The price of video games is something that annoys me immensely, but at the same time I recognise it could be worse and if the game is one I'm going to enjoy it's a price I have no issue with paying. Rewarding a developer who provides me with a complete experience with my business is just something I like to do. But I refuse to reward shitty business practices like releasing mini consoles with my money. Put the games on your existing platforms and you'll get my business. Until then, I'm going to emulate them. Simple as that.