I don't feel the need to play cutting edge games anymore. Playing Windows games in Parallel on my M1 is pretty good. I was shocked to see how well it worked. It's unlikely to run Elden Ring well. However, the vast majority of games are fine.
Technically, I think this is illegal (Microsoft doesn't have a license for ARM support that isn't Qualcomm based). So for the pirating community this might not be an issue, but for long term survivability of the industry that would need to change.