I think you are wrong. EK and Dubai are two sides of the same coin.
Emirates would not have had it success if it wasnt in Dubai.
The owners of the Airline are also the rules of Dubai. Thats a key to success. I know we compete on equal terms, or so they insist, with other operators, but those are very good terms. Airport tax in DXB is a fraction of other hubs, hence EK can sell cheaper tickets. Labor cost are a fraction of other comparable airlines. Im not talking about pilot salaries, but the whole work force.
Just imagine they move the whole operation to Rome (i think they need a new national carrier). Do you honestly think EK would do as well as in DXB?