It does, but my PS3 plays PS3 games perfectly well. Why settle for imperfect emulation for just some of the library when I can play all of the games perfectly?
I just don't get it. Original hardware does it better than any emulator.
Especially since you can grab a 360 for roughly $50 nowadays and ps3s are cheap as well. I sold my ps3 to help finance my xbox one and bought a replacement for $75 not too long ago.