Absolutely. And all of 2 sprite registers to work with, 2 missiles, and a ball.
Maybe it's generational. People who just grew up playing at home only seem to see only an imperfect copy of a cabinet version and think "why bother?" They generally played at one level of technology at a time.
We played games in two distinct places at two different levels of technology: arcades and home. And we tended to measure the home games by the arcade's standards. So we get excited over "arcade" hacks or homebrews or prototypes--especially a good one like this that shows what was possible on the home consoles.