Tegeler Audio Magnetismus 2 | Tape saturation without tape?

Is it possible to ditch the reel-2-reel machine and replace it with a transient shaper, to get the classic tape saturation/harmonic distortion sound?
Let's check out this blue box from Germany's best and brightest.

You can register for a demo of the Magnetismus 2 on Tegeler’s product page:
https://www.tegeler.com/Magnetismus2/en

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00:00 Intro
00:29 Drum Loop #1 Transient shaping
02:53 Features and knobs
03:35 Drum Loop #2 Transient shaping
04:37 On a full track #1 - stereo processing
07:57 On a full track #2 - Stereo processing
10:03 Conclusions