The Pentium is probably the best choice for an emulation box (MAME and such), where single-threaded performance is king. Also, games like the Sims 3 and MMOs don't need many threads. I've never heard of a multithreaded MMO since they're targeted toward a very broad audience generally (low spec machines).
It's a niche product that many people mistakenly passed off as being a general-purpose CPU like an i3, only with magical overclocking ability. I owned an E2140. Back then, it really was possible to overclock by roughly 100% and hang with much more expensive chips. But gaming has diverged into tiers, with the top tier generally needing more than two threads.
I don't think the two thread chip is dead but it's limited, certainly. Even emulator authors are apparently trying to use more threads. There is a Sega Saturn emulator or something that is being written to use 4.