I've used netem to emulate millisecond delays before. But I'm not sure if it has the granularity to emulate micro-second level delays.
Basically, netem is designed to provide milliseconds of delay, emulating a worldwide network. Supercomputers are thousands of times faster than that. I'd have to play with netem before I was certain that it could handle a sub ~10uS delay that supercomputers have node-to-node.
Considering that Linux task-switching is on the order of ~10mS or so, I have severe doubts that uS level delays will work with netem.
The NanoPi-Fire3 uses normal Gigabit Ethernet, which probably has latencies in the ~50uS region. Which is slower than a real supercomputer, but "proportionally" should be representative of supercomputers (since the tiny embedded ARM chips are around 50x slower than a real supercomputer node anyway).
A bunch of Rasp Pis on Gigabit Ethernet seems like a better overall "cheap supercomputer" architecture, for students of supercomputing. Better than containers or software-emulated network delays