Yes, on the Frame, the VR headset, yes, it uses uh.. PeX, FeX? Something like that.
x86/arm translation emulation layer, and then also Proton, a translation layer for windows/etc.
Interestingly... it seems there may be, or maybe potentially could be in the future... some realtime compute sharing going on, if you have a Machine and a Frame.
Because... you can Steam Link stream from the Machine to the Frame, or run some games off of the Frame itself, which is roughly a very fancy smartphone, in hardware terms.
Its via a dedicated WiFi 7 streaming dongle... and Gamers Nexus just said thats roughly a 10ms lag, 20ms worst case scenario.
So... you could theoretically make a specific like, multithreading mode that takes advantage of a Machine + Frame setup.
No clue if that actually exists or not, but it does at least seem possible.