xhyve[0] doesn't look entirely production ready, but emulates a number of devices including networking, block storage, and a framebuffer while being based on Hypervisor.framework.
Docker For Mac is based on "Hyperkit" which is based on xhyve.
So xhyve has a fair bit of mileage on it.
Does xhyve have any support for ARM though? I remember it as being pretty x86 specific re: emulated devices and targets. A very quick glance doesn't suggest this has changed.