Yup. I don't know why people continue to use this word when it comes to FPGAs.
Emulation - one thing mimicking the other. Windows mimicking Workbench through WinUAE. x86 "mimicking" 68K set through WinUAE and so on.
FPGAs used in Vampires and new graphic cards have no other (primary) purpose but to run Amiga instructions. Hence - no emulation is taking place here.