Games

That's closer but rather than being a wrapper, it takes the original architecture's instructions (MIPS in the case of N64) and generates a C/C++ function which implements that instruction. Then you call those functions in the same sequence as the original compiled machine code ran instructions.

That's a relatively inefficient way to make a port, because you're basically reimplementing the original CPU in software, hence why some have described it as emulation. At the same time though, most recompiled games are like 15-20 years old, so a bit of overhead on a modern PC isn't going to hurt you too much.

But anyway, unlike WINE, the original binary is not used any more after recompilation. Instead, you have a native binary for the target platform, the translation having occurred at the time of recompilation (when you built the port binary).