Do you… not know how multi-licensing works? You can use the project’s code under the terms of whichever license you prefer, you don’t use all three at once. Simply putting the AGPLv3 does remove unfair restrictions, because it means you don’t have to use either of the proprietary licenses the project was previously only available under.
Kinda insane how many people in a nominally open source community are defending this guy for switching to a proprietary license. If DuckStation gets shut down then I say good riddance. It is not the only PS1 emulator in town and I will not miss the endless flow of Stenzek-related drama.