>> there is no VM that could run MorphOS 3.7 so it is not very relevant.

> Who knows if there would be one if it was allowed?

To my knowledge, it is allowed. Opposed to MorphOS 1.4.5 for PowerUP, MorphOS 2.x/3.x doesn't have any restriction in this regard license-wise.

> The technique is known and there are components ready to be put together
> to make this happening.

There has been some serious attempt recently, but it seems to have been abandoned (see posting #12 in this very thread).