MiSTER hits a similar beat, just with less marketing.
Analogue's about making money. Nothing more, nothing less.
I agree that there's a lot in common, but I think the two projects target vastly different audiences.
The MiSTER project has a broader scope, and aims to preserve legacy hardware, including games, but also older computer hardware. It's much more geared towards hobbyists or tinkerers as you'll have to buy various hardware extensions to have the right setup for the console you're actually interested in playing. That being said, the MiSTER project never aims to truly be a "replacement" for any of the consoles it supports. Things like reading the console's native media or native controllers aren't really goals of the project.
Analogue's consoles on the other hand are meant to be drop in replacements for the original hardware, just re-imagined for today. They have the original controller ports, cartridge slots, support for original expansion hardware, etc. They're highly polished, and targeted at solving a specific use-case. The biggest problem the Analogue consoles solve is hooking up to modern TVs. I see them as an alternative to purchasing a CRT, upscalers, or modding original hardware, all of which can quickly ring up a bill equal to or more expensive than one of Analogue's consoles.