For music there is no bottleneck, it even properly supports external DACs via USB that almost everything else struggles with.
For video it’s only really missing AV1, which is only a pain for YouTube but not to the point it’s a real problem as I can still watch 4k on YouTube. It does support things like Dolby Vision, HDR10, TrueHD, etc.
For emulation it’s only going to struggle when you get to as recent consoles as the PS2, if modern emulation is what you are after you want a dedicated, powerful, and recent handheld emulator.