Well that blew up, huh? If you follow emulation or just gaming on the whole, you've probably heard about the controversy around the Dolphin Steam release and the Wii Common Key. There's been a lot of conclusions made, and while we've wanted to defend ourselves, we thought it would be prudent to contact lawyers first to make sure that our understanding of the situation was legally sound. That took some time, which was frustrating to ourselves and to our users, but now we are educated and ready to give an informed response.
From what I heard, Valve actually reached out to Nintendo to see if they would be ok with hosting it. Nintendo obviously said no so Valve stopped going ahead with the launch. Here is an article straight from dolphin themselves explaining what happened.
Did you mean to link the same post as OP did?