The abstractions are leaky, the VM is not a pristine environment floating on top of some vaguely well-defined architecture. The software in one has two extra layers (VM software & OS) between it and the actual platform and all this is before you start hitting weird corner cases with cpu architecture differences in the layers.
Since about 5 years Apple provides this kit: https://developer.apple.com/documentation/hypervisor Yeah, you got to use the hardware drivers from Apple unless it also supports PCI pass through, not sure but with the current user base I guess nobody would do that anyway.
I expect Apple to eventually run their ring-1 off the T chip, with everything else from a VM abstraction. It’s just the natural evolution of the UEFI approach, and Apple being themselves they’re doing it “their way” without waiting for the crossfire infested industry committees to play along.
And that's not the future I am willing to buy into.