EDIT: Removed a bit of the comment from a misunderstanding from reading the article
Depends on your expectations, technically NES had 60 FPS GPU.
If you want to drive a FullHD at that rate, and render GUI comparable to modern phones - you need 3D acceleration, ideally programmable shaders, and the fillrate.
GPU is unavailable at launch, they say it will appear in later versions, and it will be a PoverVR. Never said which PowerVR.
[0]: https://carrv.github.io/2020/papers/CARRV2020_paper_15_Zhao....
It was pricey at $999 because the chips are from low volume "shuttle run" aka MPW production (probably $300 or $400 each -- would be maybe $10 in volume production) and the board has 8 GB DDR4 2400 and other expensive things such as FMC connector.
But it's well faster than a Pi 3 and I've had 2.5 years of use out of it already...