Pair that with a 30-40$ controller extension like the Razer Kishi and you have a really powerful retro gaming device.
It will be missing the haptics, the original display, the small UMD drive loading noises and vibrations – all that stuff was part of the experience as well.
For example, it took me a wrong time to realize why emulated Game Boy Color games felt so “off” until I learned that the original display had such an extremely narrow color gamut that mapping the GBC display output to full RGB is completely wrong. The same applies to the DMG and its shades-of-green (not grey!) display with its absurdly slow LCD ghosting that needs to be accurately emulated to see anything at all in a few games that made very clever use of the constraint as a feature.
There are some good shaders these days that try to approximate all that, but it’s still just that: An approximation.
You can of course buy that device, but from personal experience the novelty doesn't last very long and then it just becomes just another device in the drawer graveyard. Also no one's really making new PSP games anymore? so the novelty of the PSP remains in its construction and the software; which becomes limiting as time goes on.
The joystick, buttons all tend to break or stick after 20 years, replacements may or may not be easy to come by for most, so it just makes more sense into building your own retro game device that supports PSP emulation among others.
But there's something quite nostalgic about holding the console you had as a kid and going down a good old happy memory lane