Thank you all for your incredibly helpful answers!
Since I do not know how to quote and reply yet, I will answer some stuff in no particular order;
-I'm building an Arcade Cabinet, custom designed by yours truly, to make an actual playroom with more cabinets and make it feel like a bonafide Arcade. Light guns Included. I dream big. Shush
-I'm trying to learn things such as JAMMA and the like that I see the more experienced builders using. I do not know what JAMMA is, I have not investigated yet, but it seems a more original way of building a Cabinet, at least from where I look at it.
-The reason I'm going with this switch instead of a Smart Power Strip is that I plan on having a Power Strip inside the Cabinet connected to the switch (after looking at the links provided I have a rough idea of how-to now) as such to simulate the one power turn-on of a traditional Cabinet.
Like I said, this one is a personal beast. I'm going to program a PC in order to boot into several emulators and use Dolphin as well with a sensor bar (And DolphinVR is a thing. Yes, you can see where Wii Games + Sensor Bar + Light Gun + VR is going.) In order to have an all-purpose Cabinet. But those add-ons are the fancy shmuck stuff, right now I'm focusing on building the actual working Cabinet with the sticks and my horrid LCD Tv.
Cheers,
Grixis