The rules apparently (since last year or so) are that you can interpret arbitrary code as long as the code in question not only legally but in practice meets the definition of the zeroth FSF's rule (notice that the “executables” on the FS image distributed with SeeLess are LLVM IR assembly text files, which is probably the reason why the thing is so damn huge)
It basically does the same thing Swift Playgrounds does where is compiles to LLVM machine code and runs it will LLVM compiled for iOS. And it is on the app store so IDK the rules at all apparently and why QEMU wouldnt be allowed.