I think we are a bit alike in our views, but I have a slightly different take on it. I consider coding something like a Chip-8 emulator to be more fun and optimal. It gives a holistic view of the language - you get to work with simple graphics, sound effects, and gain a feel for memory operations and data structures, as well as control structures like conditionals, looping, and exception handling. If that’s not all - for beginners, it provides an introduction to virtualizing CPUs with registers, stacks, opcode handling, memory units, arithmetic/bitwise operations, and more. You’ll even learn a bit about concurrency and synchronization, and by extension, threading. Also, performance optimization.

I suppose a decent game project could achieve these things too, but the real fun of Chip-8 is in throwing different ROMs at it and debugging the issues until it’s perfect enough to play all your favorite games!