I'm aiming to distribute SD cards that make some of our Pi Zero kits - Radio, Mood Light, etc - near frictionless to get up and running.
I found the use of Qemu + multistrap in this tooling easy to get my head around and I additionally wanted a stateless RAM disk so customers couldn't fubar it.
I didn't have much luck with Buildroot.
I evaluated TinyCore/PiCors too and I love the concept, but it's just a little contrived to ship to beginners. The way it mounts whole packages of overlays/dependencies is clever though- I am doing something similar (inspired by Open Pandora's pnd format) to add a custom build of VLC to PiratePython for our radio kit. Package the whole app + dependencies into a container image, drop it onto the SD card, mount and simlink everything into place.
To build a tiny fine-tuned Raspbian for "embedded" Python 3 (a project I dub PiratePython). It uses multistrap/qemu and worked well for me. YMMV.