Pretty much, except RetroArch itself is just a frontend for emulator cores. It's an attempt to standardize and unify all the emulators within a single UI in order to increase convenience for users by keeping everything in one place and to reduce the amount of work for emu devs by providing them with a functional UI with ready-to-use features like controls, netplay etc. And yes, it can be used to play games from many older systems, including PSX, SNES and GBC and more.

The devs seem to be open for ideas like legally selling ROMs on Steam that can be played through RetroArch. It would be much better and more accurate than, for instance, SEGA's own attempt at emulation. We'll see how it goes.

Sega sells ROMs on Steam just fine. And RetroArch is going to be free, of course.

Roms aren't bad by default, that's just the narrative that Nintendo has been pushing for decades. They're actually perfectly legal if obtained by the proper chanels, like how SEGA sells them on steam with the option to use the included emulator or an alternative 3rd party one if you preffer.
It's even more clearcut for emulators, they have been proven legal in the past and I think reverse engineering is even protected by law in some places.
Not feeling like searching for the sources but you can easily google this stuff.

it's really not that hard to dump your own roms, depending on the console. I dumped my entire PSP library and backed it up and it was extremely easy to do so.

By default it does not but you can make it so it does.

yes, as long as both ppl use the same core + rom

Well, we can buy them still, but use RA to emulate them more accurately.

Well, I use RA through Steam anyways because I use Steam Controller and need Steam Input. For regular Windows users auto-update is one benefit for now. I also expect them to fix the crash Steam overlay causes with the Vulkan driver. Keeping my fingers crossed for cloud save support.

Btw, ePSXe isn't supported by RetroArch, it's closed-source and plugin-based, two things the modern emulation community tries to avoid nowadays. There's Beetle PSX HW though which is almost as good.

Just the auto-updates, really.

Convenience like auto-update and promised deeper Steam integration in the future.

Workshop integration maybe? It's really nice when you get to install mods with one click.

Auto Updates
Cloud Saves
proper Steam Controller Support
Rich Presence to show what game you're playing on the friends list is a minor thing but it would be neat
Steamworks integration for Netplay would be amazing too

They've been making public key giveaways lately, once every week or so. RetroArch will be free anyway, the devs just want to gather some feedback to address any possible bugs or issues before the release.

something something devs reeeeeeee

I'm red reeeeeee

wall of text

They don't distribute any copyrighted content - no BIOS files, no copyrighted fonts, no ROMs, so everything falls under GPL. The only company actively fighting emulators claiming their entire existence is illegal is Nintendo and it keeps losing cases in courts.

THANK YOU!!!!

Thank you info o(`･Θ･´)o♪

Yes! Ty!

Must I update from PLaytest to regular?

Nice, finally.

Nice. Since people might want games to play on it, below are some completely legal ROM files some of us might already have in Steam libraries. The link wasn't based on the RetroArch stuff but a portable emulation device, so might not include valid games RetroArch runs.
FunKey Wiki