Is there a reasoning behind why they are seperate? Since load times are not counted is there anything else that's faster/slower about emulator compared to console? If not, wouldn't it make sense to consolidate into a single category?

Having looked into it now, I can say that emulator is playable but it isn't great. decent amount of graphical glitches however the most recent version of PCSX2 will give you less frame drops than actual hardware.