I mean, they have done it. When I was looking at phones a few years back, it was genuinely a toss up between a Pixel 4a and an iPhone SE. If all you need it to be is a cameraphone, then both were good options.
Even now, the iPhone 16e is a relatively inexpensive phone when considering its featureset, but I would prefer a "mini" or newer SE variant instead.
This is convenient. I've found that for most software though, especially legacy software, Heroic seems to work more often than not. Not having to configure some of the parameters myself that are required to get DX7 games to scale properly is appreciated.