I kind of agree that old 3d graphics do not age well at all. The gameplay is as good as it ever was, though.
The compromise for me which makes it work out well is since it’s basically the same hardware, I can download or rip ISO’s of PS1 games and put them on my PSP for when I am traveling. That PSP can hook up to an HDTV in a pinch.
This way, you don’t have to deal with the watered down versions of console games on mobile platforms. You can play actual console games.