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I think it's a bit rich to describe this as the 'future of video game preservation'.
The MiSTer project https://github.com/MiSTer-devel/Wiki_MiSTer/wiki more rightfully deserves that title. It's got a huge range of systems (across consoles, arcade and micro computers) and it's all GPL licenced. The base board is a Terasic DE10 Nano which is proprietary but all other hardware required is open source.
The MiSTeX project aims to make MiSTer portable across different FPGA platforms https://github.com/MiSTeX-devel so a DE10 Nano won't be mandatory enabling a new ecosystem of open hardware and commercial for profit solutions.
I take no issue with people wanting to make money in this space. I take great issue with trying to gatekeep system preservation behind a mostly closed system you stamp an 'open' moniker on.
(2022) - I don't think there is anything new here since this was announced two years ago.
FWIW, OpenFPGA on the Analogue Pocket works pretty well. Many of the most popular MiSTer cores were ported over and there are some nice desktop tools to make it easy to configure [1].
[1] https://github.com/neil-morrison44/pocket-sync