I did a little poking around the rest of the source code too, to see if they were in the process of porting to Android or something, and just never finished. As far as I can tell, there is only x86 assembly in there, no ARM assembly. This would be one of the main necessary first steps to an Android port, so even though it looks like they were planning to port it to Android, they didn't get very far from what I can tell. I'll look at it a little more closely though at some point, when I have more free time.
Note: it may be buildable without the x86 dynarec if the project has some sort of an interpreted core like Mupen64Plus, but that would be nowhere close to playable, likely well below 1 FPS. I also didn't see if any of the OpenGL stuff was ported to GLES either.