Speed-wise, both would run exceptionally well on that hardware.
The first Mac had 128kB memory, about 32 of which were taken by its video and audio buffers. It ran at about 8MHz.
The first version of Windows ran on similar hardware, requiring a 8088 and 256kB of memory.
The pico has at least that amount of memory, at top speed 16 times the clock frequency, and two cores.
I may be misunderstanding what you are saying here but if I read this correctly, you are wrong.
The project to run Transputer code on the Pi Pico uses a memory expansion for the original Pi Pico. I described it here:
https://www.theregister.com/2022/05/06/pi_pico_transputer_co...
edit - that is one WILD codebase... it has both pi pico support but also (remnants of)... Mac OS 9 support!? `#ifdef __MWERKS__`??
P.S. I wrote about HeliOS too: