IMO this is misinformation. PSP/PS1 games with TN-V/TN-X are near-perfect (barely ever crash in fact), little bit of legwork to setup and of course PS3/qCMA required but other than that not too bad. Rejuvenate is tricky but if you want faster emulators (i.e. for SNES) maybe worth the effort. The Vita hasn't sold well and isn't too popular so picking one up used with an 8GB or 16GB card on lower firmware in good condition isn't that expensive, in the UK I paid £55 for my Phat Vita (case, 16GB card, charger included). Maybe another £50-60 for games, £35 for the PS3 to help do the exploits and transfer the few DLC Vita titles I've bought. My PS4 cost me £190 used on it's own, easily another £100 or so for the games, therefore it's still below that.
While it is true that a PSP is cheaper (console, used UMD games and storage), neither the controls nor the screen are anywhere as nice as the Vita. Super easy to mod in comparison, though, that bit is true.