It takes one benefit of using an emulator (digital storage medium) and combines it with the worst aspects of original hardware (physical hardware prone to damage, video output that isn't compatible with many modern displays) and also loses out on the other benefits an emulator has (shader support, save states, emulated hardware overclocking to guarantee max and stable framerates, etc).

To me, this is almost worse because it also permanently alters a console that is no longer manufactured.