I am running a hypervisor (https://blogs.vmware.com/arm/2023/12/15/esxi-arm-fling-1-15-...) on my Raspberry Pi 4. Rock solid.
Currently running virtual machines: * Home Assistant (https://home-assistant.io/) - with USB passthrough of USB stick to read out my digital electricity/gas meters, Zigbee and Z-Wave * Homebridge (to allow my Eufy video doorbell to work with Homekit) * Pihole
All are running from iSCSI storage served by my Synology NAS.
I am running an older Pi (3) on demand in my garden as a client for my media server to play music on garden speakers.