Xenon 2 at 50 FPS would be glorious.
But could a stock-standard A500 do that, what with the sprite sizes, sprite numbers, no. of colours on sprites etc.?
My intuition tells me "no." Maybe your rational brain tells you "yes".
If so, please cite a shmup that looks that good, has wave numbers like that, and runs at 50 FPS - on A500, and at that time.
I would like to play it.