Considering that the Switch is using a completely different architecture than the gamecube, wii, and wii u, it couldn't just run off the switch's hardware natively. We know it's 99% likely it's a modified tegra x1, and we can see how well a tegra x1 does emulating wii games on the highly optimized dolphin emulator here.
I'm not sure if it is powerful enough to use wii games on the virtual console, but this is nintendo, and they have the actual blueprints to make an extremely optimized emulator that might get it to work.
old video lol