Not to mention any number of tools that rely on hardware features, and then those that rely on hardware acceleration of features.
I think very few applications interacts directly with the hardware. They do it through OS APIs and drivers. Apple just needs another way to simulate the hardware feature either with another hardware feature or software simulation.
It doesn't matter if the implementation is slower, because I believe this will be for low end users in the first iteration.
They just need to make sure that the performance is acceptable for regular users not using complex software or special hardware.