I think you're mistaken, virtualization and emulation are two different things. Metal is not low-level enough to perform high-speed virtualization, what the parent is suggesting is that you'd need to use Metal to accelerate an emulated GPU, which would result in pretty substantial performance degradation. On top of that, most virtual machines wouldn't recognize the M1 APU, which means you'd probably also need to emulate interfaces to compliment it. When all is said-and-done, you'd have an incredibly fragile and slow stack that has a good chance of breaking with every Metal update and almost
certainly breaks with each new GPU.
The struggle is not worth it, certainly not for $1,000. Probably not for $500,000.