Yeah, sure, it's possible. It's also against their EULA and they could break it (just like Hackintoshing) at any point in time and then bam; half of your customer base is receiving untested software because you no longer have access to your virtualized OSX until you fix it (just like every time an OSX/xcode update is rolled out). Is that worth saving the $500? For most of us, it's not.

Sure you can mitigate it by not doing updates, having a test machine to receive the updates and verify that it still works, yadda yadda.

I managed CI infrastructures for IOS/Android developers a few years ago and the hoops we had to jump through with xcode / EULA-breaking virtualization, etc was something I'd never experienced before. Hopefully it's different now, but we used to have to run farms of mac minis because we couldn't have jenkins/bamboo trigger more than one xcode test/build run at a time. So we'd have these $1500 mac minis sitting around doing ONE job at a time whilst the Android builds could easily do 1-10 things simultaneously.

Everything felt like Apple was fighting our developer experience. It was even worse for our business model as we developed 3rd party applications for other companies which brought it's own headaches with signing, testflight, getting demo/beta apps to clients before release to app store, etc.