Yep. However, before the Apple Silicon migration, VT-x gave us extremely low-overhead virtualization. We built a tiny linux kernel that booted in a second or two and were able to run whatever we wanted with minimal perf overhead.

In the Apple Silicon migration, obviously emulating x86_64 got slow, but even when we built ARM64 VMs, performance was still miserable: there was (is?) no way -- at least no way we ever figured out -- to get reasonable perf out of virtualization on a macbook.

It's possible that this changed post-M1 and it sounds likely it's set to change with M4.

EDIT: ok, I'm probably hallucinating more problem than there actually turned out to be based on the pain in the first year of the M1 chips.