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Both Yuzu and Ryujinx had to bypass encryption to be able to run the games. Switch 2 will be the same.
I think a big point in those cases was that the emulators came with the keys included. If you don’t provide the keys (or make them VERY easily available), emulators seem to be legal.
Nothing in that article indicated any sort of change in Nintendo’s stance. I guarantee they will come down hard and fast on anyone who makes enough progress on a Switch 2 emulator to actually be able to run commercial games.
Oh, of course, they will. Doesn’t mean they’d win if anyone dares to play the legal game to the end, though.
With the government about to take over in the US? Oh, they’d win.