I think it's a good idea for those who really just enjoy/desire to play the games, but appreciate the performance of original hardware and the highest quality display methods for said hardware (RBG, PVMs, Upscalers, CRTs, etc.) My own brother went that route, because he's always been one intrigued by high performance and tech. He tapped out of game collecting once the average price of a retro game reached about $5 - $10. He now games using various EverDrives and ODEs, on a CRT that he modified to accept SCART with retro consoles he also modified to output.
It all looks great on screen and is very convenient, the best part? You can also use that same hardware with original software so it doesn't have to negate the use of an actual game collection. The main benefit that I see in it, is the ability to play games you could never convince yourself to spend money to own and try out for the first time. You can play games you could never justify the price of, and you can find out whether games you don't own, are actually worthy of owning.
However, I will always be a collector at heart. They could produce a million ways to play all of these games as conveniently and cheaply as you could imagine, and it would never diminish my desire to continue buying individual pieces of plastic with different artwork on them. To me, it's a part of the experience that gets completely stripped away with aftermarket software and modifications. It takes me back to my younger days dabbling in MP3 piracy - it was compelling yet just wasn't fulfilling for a lot of reasons. There's nothing all that alluring about scrolling through a list of roms and booting up a file. The presentation of physical games get me excited to play them, much more so than word of mouth, gameplay videos, reviews, forum discussions, and certainly more than a list of roms. I enjoy my collection, and I would dare say it's an integral part of the experience that I would never axe completely in favor of convenience.
I'm more a proponent of modifying hardware for performance upgrades, as it mostly adds to the experience and brings you even closer to the ideal intention of the gaming experience. Using modified hardware for convenience however, doesn't serve my interests a whole lot. However, I'm not a total purist. If I can't justify something financially, and I'm convinced I need to experience it on some level, I wouldn't turn aftermarket solutions away. I've considered getting myself a Turbo Grafx-16, and then instead of collecting games just going with an EverDrive. It would certainly feel cheap, and probably become one of the more forgettable aspects of my game room/collection, but I simply can't justify starting and building a game collection for that platform at this point, as much as I'd prefer that over ROMs.
In the end it comes down to the question of whether you appreciate the experience of physical game collections. If you own a physical game collection and play it on original hardware mostly because you were aware that it was technically the best way to play most of it, then making the switch to these newer solutions makes sense. If you feel owning the software is an important part of the experience in and of itself, then these solutions would hardly qualify as a replacement.