iPSX2 looks interesting for iOS PS2 emulation, but users should treat it carefully because it is still an early project. It is not a normal App Store app, so setup may involve sideloading, extra permissions, and JIT support for better performance. RetroDodo also reported concerns around iPSX2 being linked with ARMSX2, sideloading, JIT, and source or licensing questions.
For normal users, the safest approach is simple. Do not install random files from unknown pages, do not download bundled game files, and do not trust pages that promise one click PS2 gaming on iPhone. Check the project details first, understand the setup limits, and only use your own legal game backups and BIOS files.