I can't resist the temptation to post a link from your favorite online encyclopedia :
Homebrew, in the context of the wii, relates to
defeating the Wii's copy protection and code signing measures. In more general terms, Wii Homebrew refers to the use of the Wii's hardware, accessories and software for purposes outside those intended by the manufacturer.
Original efforts focused on using the Wii Remote as a pointing device on other operating systems, or running web-based games in the built-in web browser. Subsequent developments, such as the "Twilight hack", "Bannerbomb", and the "Homebrew Channel", have made native code execution possible."
I suppose by "homebrew emulator" you intended to depreciate wii64 reputation (dare to say WinUAE is a homebrew emulator
? ). Well, fyi it might well be needed should things not turn out as "perfect" as expected with the VC.
Picked from one of DeLaFontaine famous fables, here's a French saying : "We should never forget we sometimes need less important beings in certain situations."