When I put this much work in, charging a tiny/nominal fee feels like a barrier without a clear reason.
Younger users without payment methods and those on a budget will not engage with what you built.
At $5, the income stream has to be miniscule, so why choose a $5 license instead of free with donations?
If you want to make money on this, all the thrilled users you currently have would have likely paid 2x or more the current price, so if making money from it is the reason for the cost, $5 is confusing. But $5 is also confusing as a cost of entry to something that could be widely enjoyed at no extra cost to you, and might bring you something good in return if it was free and not paid.
At $5 a pop I can't imagine you're getting much of anything, including attention or widespread usage.
My intention for Bedrock is that it will never change going forwards, other than for minor clarifications, so that existing programs will continue to work on any emulator indefinitely. Have you played around with Bedrock before, or written a program for it?
The decision to implement only two layers for Cobalt was a conscious one. The design of Cobalt is focused towards speeding up the user and helping them to finish their images, and I found that being able to go back and tweak each layer made it more difficult to commit to a final image.
In what sense does a virtual machine instruction set architecture with no hardware implementation have a "data path" separate from its arithmetic size? You seem to be using the term in a nonstandard way, which is fine, but I cannot guess what it is.
By your other criteria, the (uncontroversially "16-bit") 8088 would be an 8-bit computer, except that it had a 20-bit address space.