The ps1 was released 1.5 years before the N64, the 3dfx voodoo chip is as capable as the n64 (maybe more so considering memory available), but I guess both Nintendo and Sony did opt for a bit more cost-efficient designs to make a profit on their consoles.
Looking at the release dates, the progression of capability is quite matched.
1994 dec 3 ps1 1995 nov 6 3dfx voodoo 1996 jun 23 n64 1998 nov 27 dc 2000 mar 4 ps2
The evolution of graphics was brutal in the 90s and early 00s, but somewhere around the PS3's appearance it slowed down since lighting models were becoming "good enough" on the PS3 for not being annoyingly bad and asset creation costs became the limiting factor rather than hardware.
That isnt to say that technology hasn't improved (duh!) Just that at that point there was enough grunt and memory that you could approximate what you want without massive compromise.
I still think this is true. But we will take the extra capabilities while we are here.
On the emulator side I would definitely recommend Duckstation. It's performant, has great UI / UX and also has a CRT filter available by default that more or less recreates the original look, even slightly warping the image to make you feel like you are staring into a TV tube.
4k lets you scale the image and insert scanlines without scaling artifacts and with enough extra pixels to make the scanlines feel properly soft.
HDR lets the shader compensate for the brightness lost to the CRT filter without desaturating the color.
(https://blurbusters.com/crt-simulation-in-a-gpu-shader-looks...)
Very likely. CRT technology from phosphors to screen masks to deflection yokes were highly-evolved but there was still a lot of headroom for more performance and new innovation. Some CRT tubes where capable of driving much higher brightness than their controllers ever allowed.
It's unfortunate that CRT manufacturing wound down entirely after ~2010. While the size, weight and huge glass volumes where impractical for mass-market consumer media devices, CRTs also had unique capabilities modern display tech still can't match. With all the current interest in retro CRTs, I actually looked into what it would take to do small runs of ultra high-end HD CRTs for collectors, almost on an artisanal boutique basis. Unfortunately, it looks like the upstream manufacturing chain of many component elements also collapsed because there were no other applications for them. So, the start-up costs to make the first one would be pretty huge.