Yes – that “Code Morphing System” had a complex layered process where code started running in an interpreter and was progressively optimized as it was repeatedly executed. The main problem they hit is that even with a simplified CPU, the economies of scale are brutally unforgiving to a niche product and they could never demonstrate a compelling advantage to prospective buyers: there were a few microbenchmarks where it looked competitive but real world code never showed much benefit and the larger engineering teams Intel/AMD could afford to support continued to race ahead.

In the case of Apple, the situation could be different because they're guaranteed to ship in significant volume, their potential budget for R&D is massive, and most importantly they control the entire OS and have significant sway with the application developers, not to mention how far dynamic binary translation has improved. It'd still be a huge project but it's not unrealistic to image something like running a slow, offline binary translator over the entire contents of the App Store, which simply wasn't the kind of thing anyone could do in the 90s.