If you are interested in listening to shellac records, I would definitely not recommend this record player.
You can find enough models that also have the 78 rpm speed. Audio-Technica, for example, has some good models. It is then simply a matter of replacing the needle, as you have already mentioned. Certain models even have a stowage place for a 2nd head.
In my view, the Soundmaster is merely an "eye-catcher" (Still less than a real gramophone) and should not be used effectively for playing records. (Look at the tone arm. It contradicts all the sacred laws of the vinyl listener).
Too high a price for something plastic. Any gramo from the real era costs even less....
To this I must add that a belt drive, as claimed otherwise by the manufacturer, does not prevent vibrations. Get a player with direct drive for this.
Greetings