As others have mentioned, for software that is built on Apple's Frameworks, a recompile and perhaps a few tweaks will mostly suffice. It's up to Apple to optimize on the performance sensitive parts then. Affinity and Pixelmator, for example, would have a much, much easier time porting than Adobe who've rolled their own cruft and dragged it along for years.
For those concerned about the viability of dynamic translation, it already exists in at least a couple of forms. You can run x86 binaries, even windows applications with x86 Wine, on something as weak as a raspberry pi with Exagear, which does dynamic binary translation (
https://eltechs.com).