Of course, you can find a victim in everything you do, both good and bad. Me releasing free games I make for a platform, may decrease sales of like commercial games for the same platform. So in realitly the word "victimless" can never actually come to be. Every action creates a victim. You can argue degrees of negativie effects on the victims, sure, and even try and balance those out with the postive effects, but you cannot say something is victimless.
But, I honestly believe, emulation harms the industry more than it helps. However, I am one of the few that will go out and buy the game if its available, even if its a remake, even if I have the ROM. I _do_ have many roms/isos of games that I dont own, but I only have them of games I cannot find, I search ebay, half.com, and my local game stores game bins searching for some of these lost classics, and buy them whenever I find them, even if its a remake. But not everone is like me (most actually are not, no matter how "good" and "honest" they claim to be, when it comes down to it).
Of course WindWaker is crap. Nintendo lost about half of their zelda fanbase with that game, and not just because it was on a GC. When that game was announced, and even after the release, the zelda fanbase split into two MAJOR factions, those that absolutely hated the way the designer went with zelda, and those who loved it. This significantly split the zelda fanbase (even those with GC's) in half. You cannot say this is because of the small amount of GC sales, thats a bogus statement, because N64 suffered from lack of sales as well, and the two zeldas for that sold very well (even though I dont really enjoy them that much they are still 100x better than WindWaker). It was so bad, in fact, that Nintendo released a press release soon after, announcing that they DO plan on making a more "mature" style zelda game for the GC (using the original graphics (kinda like Link for Soul Calibur 2) that nintendo showed at E3 the previous year)