I have a retro game station using a Raspberry Pi 3B (RetroPi OS - Free) and have over 10,000 games (NES, SNES, SEGA/Genesis/32X, GBA, GBC, etc.). I have yet to make an arcade style controller deck or mini arcade box, unfortunately, due to RL issues. It shouldn't be too difficult to make one just haven't had the funds, time, tools and space to actually start the project.
Q: Is it worth the investment?
A: If you're into retro games and the price $100 or less then I would go for it.
A Raspberry Pi 3B is about $35. Most PC savvy folks will have a spare HDMI cord, HDD/SSD, KB/Mouse and 3.3-5V USB cord laying around the house/office. Most USB and Bluetooth game controllers will work (PS4 controller - confirmed). Game ROMS are mostly free with the exception of a few ROM depositories or system ROMS, shop around first. I have this basic setup but will get into the $100 and more range once I buy materials to make the controller deck or mini box stand.
Things like:
7-14 Arcade push buttons
1 or 2 arcade joysticks
Wood and plastic sheets for housing
Arduino MCB
Screws, nuts, washers, bolts, etc.
(Edit) I can link some sources/tutorials if your interested in a DIY project.