How to conditionally change email content from Webform submissions
This is more of a coding solution but you could implement hook_webform_submission_presave() in a custom module and use that to save the appropriate text to a hidden webform field type, then see if the token for that field will work in the email.

Alternatively, you could implement hook_webform_submission_insert() and send the email programmatically there, which would give you full conditional control of the email recipients and contents.