Using an app called cannoli and an Xbox controller I can play everything up to PS1 and some Dreamcast/Gamecube.
I believe I could buy similar/better specced hardware from AliExpress (device + controller) for around $80AUD.
The hardware, even with prices as they are is not the problem.
You can play NFS underground 2 in browser on an old iPhone. https://nfsu2.xyz/
There are multi-terabyte archives of roms available online.
But we hit a crossroads of legality, required technical skill, and curation.
I’d love to be able to relive the excitement of Gran Turismo or Pokémon blue, or split screen golden eye, but I find the only retro games I really enjoy are pick up ones like crazy taxi or simpsons hit n run.
I could imagine an intentional curated collection of optimised knock offs on a sub hundred dollar device potentially being a cool thing.
Ala super tux cart, super smash tux, tuxnite, tux pro skater, tuxemon, call of tux, tuxparty, tux sports, etc.
Instead we will probably just get cloud gaming and AI remasters of things we’ve already purchased.