Yes. Apple put custom hardware support in the M series chips based on the needs of Rosetta 2. The x86_64 performance on Rosetta 2 was often higher at launch than the prior generation of Intel chips running those same binaries natively.

Microsoft and Qualcomm already knew the performance of x86 app emulation on windows was killing the ARM machine lineup, so Qualcomm was working on extensions to their chips and Microsoft on having Windows support them already, but ARM64EC and Prism didn't launch for two years after the M1 shipped.