This is based on the frontend for emulators for PC called 3D Arcade where you move around a 3D environment of arcade cabinets or consoles.

You move around like the in game Mist; it loads up a different screenshot every time you move left, forward and right.

Go up to the cab and if you press the left trigger button it will boot Mame4All.

http://forums.qj.net/psp-development-forum/150991-3d-arcadepsp-demo-not-3d-program.html