Oh it's much better than that. You can choose from a variety of japanese cars and tune them. Cruse around the tokyo highway in an open world fashion, and start street races with other drivers at will. Street Racer Samurai.
Considering the BD-JB exploit, the playstation consoles seem more interesting (well, to me). And I would guess a used PS4 would be more affordable. Sadly the PS4 is not backwards compatible with PS2. On the other hand the PS2 only has analog outputs which is a problem these days. Oh, and a raspberry pi is an excellent choice, but they have become unobtainium due to the chip shortage.