This might work if you only have to run three or four VMs on a box, and run several applications in each container. Full PC virtual machines are much too heavyweight, though, for isolating thousands of individual processes per box, especially when most of them might just sit there doing nothing most of the time.

Though! If you want to, you can think of this standard as specifying an "ABI format" for high-level, lightweight VMs that happens to run on a "Linux machine" instead of, say, an "IA32 machine."