)
You can, but emulated copies don't have the dummied out PocketStation game (in terms of LoM), nor do they have Steamworks features that Square Enix tend to fully embrace.
You could use a similar argument with the previously mentioned Diablo II remaster: the old version works perfectly well on modern systems after a compatibility pass, and the only thing you miss out on is battle.net-served multiplayer (direct IP still works and can be modded to have b.net features).
It's more the fact that SE is extremely lazy with their ports, and then pop a surprised pikachu face when people complain. Not unlike Blizzard, that.