Emulation for preservation is a bit weird but why not. Now... CRTs are still built and sold today and you can also buy brand new CRT controller boards from China. Not "new old stock" but brand new stuff, still built today.

For anyone who has the room for it, just go buy an actual arcade cab with a CRT in it. Then put a Raspberry Pi with a "Pi2JAMMA" (not affiliated with these guys, but I like it) connector in it. You'll have thousands of games and it's basically the real thing (short of very specific cases like the game Tempest that was directly controlling the electron beam).

I'm a happy camper with one vintage arcade cab, which I own since years. A friend of mine saw it and went berzerk: he now has six arcade cabs.

If I wanted to be facetious I'd say it's arguably less work to buy a vintage arcade cab with an actual CRT and put a RPi + Pi2JAMMA adapter in it then try to get a shader working on a modern screen.

If you want the real arcade feeling you need proper arcade joysticks anyway: at that point we're probably already talking about a cab (you could have just the joysticks controller, but it's not as good as the joystick in an arcade cab).

So if you've got a cab, you may as well go with a real one (with a CRT that is) and an adapter that'll drive the CRT (like the Pi2JAMMA one).

As a bonus you'll also be able to put real vintage PCBs in your cab.