From their about page:
The reason for this was to build on the successes of the bsnes revival to create an easy-to-use multi-system emulator, as well as to begin adding more modern systems such as the Nintendo 64 and PlayStation, which simply cannot be emulated using the cycle-accurate model of higan.
Basically, Ares was bsnes > higan > bsnes (v2) > forked to be a multi-emulator again. Super confusing, yes.