Doesn't come close:
MP3 decoding is done by a hardware decoder - no possibility for other formats.
Storage is in FAT32 partitions. Yuck.
Display is charactor based, not pixel-based.
Only stereo out, not 4 channel.
No DSP = no eq, balance, fader, loudness, stereo delay, automatic volume adjustment etc.
No circuitry to interface to headlight dimmer, cell mute etc.
No visuals.
No playlists!
No case!
And finally, no empeg software - which still today remains the bggest differentiator between the empeg and other solutions.
You'd be better off with a second hand Advantech PCM5862 from ebay, and hacking together your own display, interface crcuitry and software...Someone on this board did something like that once