It can turn into a low-resolution but functional UI (RGUI) into a full-fledged XMB clone, and so on. You can find many impressive shaders that can enhance the in-game look of a game. RetroArch has its own shader spec that is being extensively used and implemented by various other programs unrelated to RetroArch/libretro. It also allows you to rewind your games in real-time. It has features few other dedicated games / emulators have, such as:
It tries to be on the cutting edge of technology in terms of supported technology as well as trying to be as backward compatible as possible, a paradoxical goal if any.
It is designed to be fast, lightweight, and portable. RetroArch is most popularly known for being a program with which you can play many emulators and games, which have all been customized and tailor-ported to the libretro API.