On the other side VirtualBox the software application is designed to integrate with the desktop well, VNCing into the guest is not an alternative to this.
I hope efforts will be made in FreeBSD world too against its bhyve hypervisor.
The terminology issue is curious but it has been already covered here lately in a topic about Linux direct rendering manager, DRM. The acronym was used in a narrow circle of people compared to "the whole ICT", as were keyboard-video-mouse devices. Less than 1% of professionals deal with Linux internals on that level, and less than 1% of professionals are server room on-site engineers. There wasn't collective consciousness about these terms so they got reused.
Also LVM is taken by something else (storage) and LKVM would be confusing.