Ubuntu Touch is not a traditional PC Linux distro, so no, you can't just use everything in the same way as you might with such a linux distribution.
In particular, I don't think any of the supported devices have any virtualization support, so you wouldn't be able to use qemu/kvm on them, no. As mentioned though, you can create a Libertine container for using legacy CLI and X11 applications, though many apps may have various issues with that.