It's dependent on how contracts are set up for emulation. A company might be against bc for their games since it's far beyond the scope of the original license deal. I'd imagine the vast majority of pubs would be ok with it but it's still something Sony has to sort out.Are you sure something like that is actually in the contract?
Otherwise someone like me could just find an open source emulator and port it as an app.
I think the bigger issue with the latter is that it could open up vulnerabilities, that Sony wouldn't want exposed.