Embedded system for having a real purpose of studying and experimentation would rather need a core HF radio transmitter/receiver instead of wifi and the abstract layer for modulation/demodulation digital/physical layer should better be handled in the user space.
USB could be replaced by other bus/hw link that have a simpler state machine and easier wire control. Ex: GPIB.
USB and Wifi have to much states required to function simply.
And seriously, just blitting operation (also usable in cryptography and matrix operations) should be enough to have a decent 2D CPU handling of graphics. Then, with an I2C bus you probably can pilot a chipset to just process the buffers at refresh time and either DAC or push them to a display.
The complexity in the design reflects in the complexity of the code needed to handle it.