Others have done a good job at explaining what this is. Though, a quick tip.
If you’re ever unsure about what a component is, do a quick search for what those chips are. In this case, I see several Asmedia asm1061. In 5 minutes you should know more about that component.
Having it open source, does not make it good. I think I'd prioritise making it fun, try to.make a profit, and then open sourcing it. I don't think having it open source will help you sell copies... you might sell less. Make your money first, have a feasible business strategy, so you don't go bust. Then try to keep the game alive vis open sourcing it.