Would an x86 emulator running a copy of itself inside itself (e.g. UniPCemu running Windows running UniPCemu or Bochs running Windows running Bochs) count as a proper CPU emulation test? Or would it not verify anything?

Of course I'm not counting the fact that emulation slows down for each level it's emulating something inside something that's emulated, but just for testing CPU/hardware emulation correctness?

I know fake86 did this once, which of course proves it's correctly running, but does that count for other x86 emulators as well?