Not exactly. Emulating the board and chipset is where a lot of emulation issues show up. ROMs are generally pretty easy to serialize/copy around. It’s the chipset/boards that are tricky and generally requires the boards being destroyed when reverse engineering them to figure out how to emulate the chipset features.

This would be a “perfect” emulation of any Saturn ROM/Game/whatever.

That can only be done with original hardware. Emulators get close, but all they can ever get is “close”. New versions of the emulator chipsets come out to address and fix bugs or API issues that are discovered later as additional games are played on the emulator.

It’s why not all games run on all emulators. There’s a lot of subsets based on chip compatibility and specifically, how close it is to the original thing that will only work on some subset of games; and you might need a different emulator to run the other games for a platform because of compatibility issues.

So, again, this is not an emulator.

This is the real deal. Just smaller.

Running a ROM on it is not emulating. It’s running a game file on the original hardware, and the compatibility will be 100%, instead of some smaller % that an emulated board/chipset would have.