I'm not familiar with the ATmega32A, but at first glance at the datasheet, it seems to offer about the same features and performance as the ATmega328P used on the 8-bit Arduino UNO and Nano. The article says "ATmega32A MCU acts as an I/O subsystem, 'emulating' the EPROM and all the I/O components".

What I find funny is that the ATmega32A is probably at least 4X faster than the Z80 at the same clock speed, maybe even 10X faster. The ATmega executes one instruction per cycle, while the the Z80 needs at least 4 cycles per instruction. But even more, the AVR8 instruction set includes hardware multiplication, far better indexing modes, and lots of general purpose registers (if I recall 32-bit?). It wouldn't surprise me if the 16MHz AVR could emulate a Z80 at say 1-2 MHz.

I have a soft spot for the Z80, and I think all projects involving them are cool. But I always wonder where a Z80 hardware kit fits in the world today.