Well, the ONLY way to make the system blazing-fast is to move ALL "fast" (chipram, Agnus, Denise, etc) components into an FPGA: otherwise they would always bottleneck the whole thing. They could leave the choice of an emulated Paula or real one to the user (although it's probably not possible to use real one with HDMI). Yes, this would turn A600 into a fancy I/O card & keyboard, but why does THAT matter? If you want authentic thing you could just turn Vampire V2 off...It doesn't yet but it is headed that way. Getting SAGA is a big step along the way to get some of the custom chips into the FPGA. And I think they plan on doing Paula emulation as well so they can send it through the HDMI output?
As long as you could take authentic Amiga floppy with authentic Amiga game, put it in the floppy drive and boot it - it's "authentic enough" for most users. I really hope that eventually this way we could get to the "revived Amiga". Who the hell cares what's inside (RPi, Minimig or whatever). If it looks like read thing, works like real thing (only faster) then does it even matter if it uses fancy FPGA or even ARM CPU + emulator? Currently the problem is that we could emulate the "core" of Amiga in FPGA pretty well, but lots of smallish things are hard to emulate (floppy drive interface, keyboard, etc - they ALL could be emulated, of course, but that's A LOT OF work) thus Vampire V2 makes a lot of sense, but if we could eventually put it all into FPGA... then why not?