Pancomputationalism, the idea that the universe/multiverse is one big computer, is a generalization of panpsychism, the Universe as Mind. Any Turing-complete computational device, with enough memory, can emulate any other Turing-complete computational device or physical process. Consider game console emulators. This is the Church-Turing-Deutsche principle and it works backwards as well. The reasons our computers work at all is because they are constellations of matter and energy precisely configured to exploit and make use of the underlying computational nature of our reality. Since our computers are Turing-complete, and they are subsets of the Universe, it is a trivial fact then that the entire Universe is also Turing complete. The same is true of our minds for they are reality emulators.
When viewed in this light, there's really no difference between an emulated world and a non-emulated world. It's all just one big meta-circular computational evaluation. There is no top-level reality, for the top-level reality itself can be emulated.
