The '51 is used mainly in applications where rear time is REAL, not the crap about 'real enough'. The '51 world, fortunately, has not caught virus gatesia.

I know of no project without timing loops.
When processing serial input at at a high baud rate I always end up caluclating the ISR to see if there is 'time room' to do what I want to do.
Your posting indicates that you have misunderstood what the '51 is:
It is NOT a processor
It IS a controller

If you look through the postings here and other places you will see many applications of the keyboard/display type, this may, indeed, be the bulk of appliactions (school and hobby), but if you look at units produced, this will comprise less than 1%.

Maybe the university you are at is doing 'pure research' but if you want to do something that someday may find aa practical purouse stay REAL.

have REAL fun,

Erik