The following steps should get you running with a decent performing cool-retro-term like in this video: https://www.youtube.com/watch?v=NVUPV3yJv04 . Thanks to @sirspudd for all the work.
- Install Arch Linux following https://archlinuxarm.org/platforms/armv8/broadcom/raspberry-pi-3 (Do not use "AArch64" version or it will not work)
- Add repo
cat <<EOF >> /etc/pacman.conf
[qpi]