Emulation is serviceable for retro gaming but has some issues at times with accuracy compared to the actual games and hardware that I tend to always notice, which is a huge reason why I still collect and play the actual games. Not to mention nostalgia is a big part of the experience for me that I just can't recreate with emulating on a PC.
For these new classic/mini consoles, they are IMO like a middle ground between emulation and the real thing, and they are more plug and play accessible and cheaper than building a raspberry pi or whatever. Also being an officially licensed product is important for collectability as well.
That's my personal justification anyways.