Racing Lagoon also, as a lot of games of it's time, has loading screens. You get a loading screen on random encounters. You get loading screens before events. There's a lot of loading in it.
Now, in current year, you can fire it up in duckstation and just uncap the emulator during loading. I've done this. It takes a LOT of time out of a playthrough.
But, having done both, I think I prefer it with the loading. It for sure sets the pace and sometimes you want a game to just, not be doling out the hits too fast.