I don't think that's at all the goal or even vague direction of the Asahi Linux project. It's to replace macOS, not to run as a VM within it.
It's already possible to do what you want, with Parallels and any modern arm64 Linux distro, as long as the games are compiled for arm64 / you're willing to take the performance hit of emulation.
Not really macos gaming but it could be a bit thing for macbook gaming. My only laptop is a macbook and its powerful enough to run many of the games I play but they only run on windows/linux.
It's already possible to do what you want, with Parallels and any modern arm64 Linux distro, as long as the games are compiled for arm64 / you're willing to take the performance hit of emulation.