A true emulator would have 'fake feeds' or allow you to tee up some video files to use.
Furthermore an emulator could allow you to create macros in advance, then import into the real gear, this again would be huge. In my particular case the MiniPro is at the church, and I'm not really up for heading over there 10:00pm at night to try something out or test something I've learned so I can put it into production on Sunday. With the release of the Mini and now MiniPro I could see an audience for this only growing. An emulator/simulator is excellent for training, testing and general education, particularly in scenarios where you don't have full time access to the actual gear. I wish BlackMagic would fully support this.