To everyone who's wondering about Windows on ARM Macs:
I'm a developer, have worked for Microsoft in the past and know a thing or two about ARM and x86.
Here's the current state of things, going forward.
Emulation/Virtualization
-> it is possible to encapsulate 32-bit code in a 64-bit process.
CodeWeavers have successfully done this under Catalina. Without knowing details about Rosetta 2, what that likely means is as long as Rosetta 2 is around, we'll likely be able to virtualize x64 Windows on ARM Macs. The only caveat here might be that Rosetta 2 translates x64 instructions to ARM at install time.
-> Once Rosetta 2 disappears, a new emulation layer will have to be found. Windows 10 on ARM could come into play here. Even if Windows 10 on ARM isn't officially supported by Apple, the community will find ways to virtualize it. Windows 10 on ARM ships with an x86 simulator, which could be used to keep running x86 Windows apps well into the future. If your Workflow depends on some old, specialized x86 Windows app, this might be your golden ticket. Unfortunately, Windows 10 on ARM doesn't currently support x64 emulation.
Bootcamp
-> There are two important parts needed to make Windows sing on a Mac: what's commonly referred to as the bootloader and a Windows build for the CPU architecture in question. With the availability of Windows 10 on ARM, the latter is already around. While there currently isn't an ARM build of a Mac bootloader available (to my knowledge), there's a pretty good chance something like OpenCore could be built for ARM Macs.
-> Bottom line is that this solution could provide a relatively efficient way to emulate x86 Windows apps on an ARM Mac by again using the x86 emulator that ships with Windows.
EDIT:
Looks like Rosetta 2 won't be able to emulate virtualization software, so the first option under Emulation/Virtualization is off the table