I'd guess there's no motivation for an Itanium emulator, because there's no exciting application or system that was exclusively for Itanium.
MAME emulates a host of odd things because fun games run on those odd things and people would like to play those without having the hardware. You can run AIX on lots of hardware, so running it on emulated Itanium wouldn't be very fun.
MAME emulates a host of odd things because fun games run on those odd things and people would like to play those without having the hardware. You can run AIX on lots of hardware, so running it on emulated Itanium wouldn't be very fun.