Is Microsoft going to make their old Xbox Original ames a port to newer platforms?

This depends more on the publishers and developers. Microsoft have stated several times they want to get as full a library as possible of all the legacy games which is why the new Xbox series X is supposed to be able to play almost every game from every
generation of Xbox console (including the original). I'm sure I've heard several times that it may also include reading the physical discs to run the games but I would wait to see for that bit

completely incorrect, they have suspended BC while they concentrate on the series x, all the 360 and og games are run in an emulator wrap, it is all software not hardware, the series x will be no different, it will also use and emulator to run the games,
dont forget the series x is just a pc with an apu.

some games from the original xbox can be played on the xbox 360, although it would also be amazing to see those games compatible for current consoles but I see it unlikely that they will.

midnight club was the game

which is why the new Xbox series X is supposed to be able to play almost every game from every generation of Xbox console (including the original).

That's marketing spiel that's been misinterpreted. From how I understand it, the Xbox Series X will run most if not all Xbox One games. Which means at best, 100% BC with the Xbox One. It will also play all the games that currently on the Xbox One BC list
on the Xbox One.

Nowhere have said it will play almost, or all Xbox games from all the Xbox generations.

The problem with making all old games work is a hardware one. The Xbox 360 used a PowerPC 32-bit processor. The Xbox One and Series X use AMD X64 based processors. The Xbox One and the Series X are like PCs and they share the same processor architecture.

BC is achieved on the Xbox One because the BC team (with zero help from the developer) take the old 360 game and reverse engineer it to run on the Xbox One, taking the original 32-bit PPC executable archive and turning it into a 64-bit X64 executable. There's
no software emulation for the game. The only thing emulated in software is the 360 OS.

To run most games, or indeed, every game would require a software emulator for 360 games. A pure software emulator is a lot of hard work, far to complex to explain here.