Yes, as the others have said, the Saturn is a completely different beast from the PS1. Doing a bleem! style Saturn emulator on PS1 is impossible.
On the other hand, seeing how the PS1 is in fact pretty simple, there's a slight chance with enough programming skill, one could make a PlayStation emulator/translator/interpreter/recompiler or whatever you'd call it, for the Saturn.
The one big hurdle though, is the Saturn is a mess to program for. It had two SH-2 CPUs, two VDPs, a M68k acting as a sound controller and a Yamaha FH1 DSP, which weren't all of the ICs in the Saturn, but the most important. It also had a ridiculous amount of RAM banks for individual purposes.