So this Lima is some sort of frontend for Docker then? That would be important to mention.
If you want to draw some very coarse comparisons with big names, lima is like VMware Fusion, colima is like the Docker for Mac app.
colima kind of fills one of the use cases of docker-machine which kind of died as this use case was handled by DfM and the other use case (handling machines for swarm) was folded into docker swarm and docker compose.
Colima is a low-configuration command line tool to spin up a linux VM (using Lima) which includes docker support, so you can run docker commands in the Mac terminal but the containers actually run in the linux VM.
You still have to install the actual docker CLI tool separately via Homebrew etc. Colima just provides everything else.
This is also what happens generally when you install and run Docker Desktop on Mac or Windows, I just like Colima because it’s a much lighter installation and doesn’t come with the commercial paid license requirement of Docker Desktop.