That's relative. Snapdragon 865 (currently the most powerful SoC for Android) is capable of running most GC/Wii games at full speed or close using "adequated" settings, but the main limitation of the high-end SoC's is the temperature (besides the GPU driver quality), that's why phones with liquid cooling or other abilities to keep themselves cool will be very useful for Dolphin emulator and general gaming. Phones manufacturers will still put some software thermal limitations for extra safety or for just to keep a good battery life, that's why enthusiasts will install custom kernels and ROMs on their phones to release their full potential at cost of lifespam.
PC: AMD Ryzen 5 3600 / GTX 660 2GB / 16GB DDR4 3600MHz / Windows 10 Pro
Phones: Poco F3 8/256GB (Snapdragon 870 5G) and Redmi Note 6 Pro 4/64GB (Snapdragon 636)
Phones: Poco F3 8/256GB (Snapdragon 870 5G) and Redmi Note 6 Pro 4/64GB (Snapdragon 636)