It has very few RAM to emulate PC's/higher end Classic Macs. You understimate 90's computing. A Pentium 2@333MHZ or a P3 at 500 MHZ was a beast and an RP2350 can't do nil. Maybe some very early computers like the Amiga and the m68k Macs could be emulated under it.

You can play DivX movies under a Pentium II. And a Pentium III at 600 can run Icewm, modern dillo, TLS 1.3... with ease, even post into HN.