Many of these 'portables' were used in A/V types of situations: schools (language classes where you could record your voice), business meetings, other training sessions, and so forth. At the slower speed (and even half of that--15/16) speech was intelligible. Music typically required the higher speed. Then, fidelity was probably equivalent to suitcase record players of similar form factor, using the built in loudspeaker.
An alternative in A/V training/education applications were portable record players hooked up to a projector that would display 'film strips'. I'm doing this from a poor memory, but I think sometimes the record would 'beep' and this would signal the projector to advance the strip. Or maybe it was done manually.
Domestically, at Christmas, families might make a tape recording and send to relatives who might also have a player. Record birthday parties and such. By the mid '60s, with the popularization of 'Super 8' home movies, tape wasn't too important for any of that. Then came VHS. Everyone has old VHS tapes they can no longer play. To rectify that situation you could have your VHS turned into a DVD. I don't think home movies ever made it to Blue Ray. Now it's all real time video chat on your cell phone. Humanity can sleep better at night, with all the progress, that much is certain!