The QEMU/KVM hypervisor on PowerPC/POWER is quite clever. First of all, the fact that it works at all on G3/G4/G5/PS3/etc. CPUs that don't even have a hypervisor mode is kind of amazing. It's called "KVM-PS" (for "problem state", the IBM term for "user mode"), vs. "KVM-HV" for the kernel module that uses a real hypervisor.
The PPC KVM module knows how to trap and emulate the "zero a cache line" instruction, which is how you can run old versions of MacOS 9 or X on a recent POWER9 or whatever.