OpenWrt newbie here. Can a wifi-router with OpenWrt replace dedicated managed switch, wireless AP and firewall in a small homelab environment?

I would lose some nice feature from a dedicated managed switch like L3 switching and LACP (because most wifi-router only has one ethernet?), but for a small homelab this should not be a big problem. Another benefit of using OpenWrt is that I can get software support indefinitely (as long as the OpenWrt project continues).

I like the idea of having one single device managing the whole network. Any other caveats I need to look out for?

(I am planning to buy a GL-iNET MT-6000 btw, it costs about 100 USD in where I live)