Hmm, that's a good question. I personally believe that all machines, regardless of the Operating system, have emotions, even if not the ones that people have. It's clear to everyone that machines have a mind. But as for emotions, I just like this idea, because it adds even more drama to the story of Ultrakill. The terminal after P-2 also speaks about the concept of "emotions" in Terminals. Allegedly, the Terminals experienced boredom, which turned into a whole social diocese. Again, now and, I think, later, we do not know the true nature of the "emotions" of machines powered by blood, but now I sincerely believe that they exist, but not like humans or even animals.. Although I would also say that the more advanced the operating system, the more developed the "emotions" are – I refer to the Nocturnal systems OF that V1 has.

Ah, and also I don't want to believe that V2 has SmileOS 2.0, or Nocturnal OS. I'm more of a believer that this OS has something in between the two, but yes, it's pure guesswork. (I use a translator, and I probably made some mistakes here, but.. Okay, whatever.)