We should declare a moratorium on speaker emulators. They hurt the ears of any guitarist who takes tone seriously. I've experimented with many of these workarounds. The more components you fake, the less authentic your tone is.
People try to substitute equalization for a speaker.
They eliminate power tubes and their saturation. They eliminate everything between the distortion stage and the recording tape and replace it by various workarounds. It's good that some people are trying, but we need to get real. The only shortcuts that don't ruin the sound are the very moderate volume reducers such as speaker isolation cabinets and inductive power soaks going into a real guitar speaker in a real cabinet, with a real microphone. But it's not Rock Guitar Tone unless it travels through saturated power tubes, transformer, guitar speaker, and microphone.