The emulator present in the Switch Online subscription seems to be practically perfect for the Pokémon games.
The options for trade and battles work perfectly (and unlike Gen 1/2 on the Virtual Console you are not limited to just local, but Online too, imagine being able to play Pokémon Emerald from GBA Online with trade and everything) in addition to Pokémon Home could also easily be supported just by reading the .sav of these games like Pokémon Bank did on the 3DS.
It looks like everything is lining up to have Pokémon games in the Switch Online subscription for the foreseeable future, although I’m still pretty skeptical as to whether the Pokémon Company will actually put these games on the subscription or if they’re going to try to make a few extra bucks selling the Game Boy separately. (Which I would honestly be a little disappointed, but not surprised)