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We've actually already been seeing this, notably from the current owners of Atari with their re-issues of Atari 2600 hardware and software. I'd imagine once either Nintendo or Sony attempts this idea it'll probably kickstart a trend of physical hardware and software re-issues.

Aftermath@aftermath.site

Luke half-seriously wonders: What if...everyone just re-released old consoles instead of trying to sell $1000+ new ones? aftermath.site/ps2-xbox-re-re...

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Should be noted that newly manufactured hardware that replicates older systems have been around for a long time, going from SoC to software emulation to the current trend of FPGA-based hardware emulation. We have plenty of options for hardware but having official software would be really cool.

"Official software" meaning software that was officially endorced by the original console manufacturer. Unofficial releases have also been around for even longer but that goes without saying.

I'd love for there to be a factory new SNES with an HDMI output and cartridges to buy but I feel like the current crop of execs/investors would insist on it being an emulation box tied to a subscription service, like how Nintendo ties the Classics games to NSO (and, well, a Switch).