They never advertised it as anything else but a working PS1 in a smaller form factor.
And that's what you've got.
They also never advertised that it wasn't even going to use proprietary emulation either. When PS1 games have been available on other Sony hardware for years, you don't expect laggy open-source emulation in a brand new product released by the exact same company. When they decided to give it the exact same name as Nintendo's mini consoles, "Classic", Sony forced the inevitable comparisons upon themselves in both. If Sony didn't want the Library, UI, customization options, and emulation quality compared, they should have called it anything else in the world.