It's also miserably inefficient to emulate, say, an Amiga 500 inside an Amiga 500. The virtualised instance will be considerably slower than the host to the point where it's not feasible to use. However, from the perspective of the software running on that emulated instance nothing is different, it behaves as normal, instructions take the same number of CPU clocks as they would on real hardware.
It doesn't much matter how long the host takes to run one second of simulated time if we're part of that simulation. If one second of simulated time takes a year to simulate or a thousand years it'd still be one second of simulated time.
I'm with you, though, this is an interesting teleological plaything but little more. God isn't a computer scientist any more than he's a watchmaker.