>>47806215Gameboy Color could, but there wouldn't have been enough memory on the cartridge for this level of detail and battle effects, sprites, music, etc. You are correct of course that the Gameboy wouldn't have displayed this well at all. I don't think this image contains more than 52 colors so theoretically it could be displayed on GBC.
It does make the point: they put about as much effort into the games as they could have given the commercial factors and the available technology. There was clearly room to improve the look of some of the buildings, but the game is much more than a promenade. Emphasis was put into the battles, which could have been improved, but which were very fun and exciting.
Somebody should make this now for the GBA.