I know all that...
The CD32 came out in 1993 and the Playstation 1 was 1996. Even for those 3 years the PS1 was proportionally way more powerful.
However, if you put an SX32 into the CD32 and play a few Amiga scene demos then you won't see anything on the Yaroze home brewed that could match the quality of the 3D in the Amiga demos.
I have been calling on other threads for a cheap PPC/3D GPU to be made for the classic Amigas but for some reason hardware developers are too geeked up with crappy mediator-style pass-thru boards for defunct PCI cards and the USB stuff.
I wish someone would give us some meaty gaming hardware. The Phase5 PPC boards were not slender enough to be cheap and gamer friendly, they fussed about too much with SCSI, SIMM slots etc.
As for programming homebrew, I hear there are cults that program for the Dreamcast (and it's Visual Memory card) and the Atari Jaguar!
:-)