The C64 Ultimate is actually pretty legit, and the price isn't too outrageous for the base model. It's essentially combining a bunch of really quite polished community projects for the C64 together to create a finished product.
The new owner of Commodore, Peri Fractic of Retro Recipes fame, is truly a super fan of retro computers, and has made content about them on his YouTube for a decade. However, he stubbornly continues to use AI despite some backlash.
This new phone is massively overpriced, but I suspect those who buy one will receive it eventually.