> Is there something more to the process of VM migration from VMWare than just using this tool (and manually creating the proper virtual hardware profile in the new hypervisor)?

Yes? Do that for the hundreds of VMs, with a minimal downtime, bonus points for a dumb C-level on your neck.

You would quickly learn what "just converting disk images" is not enough for moving between hypervisors.

Just as an example: last year I moved a company with two Proxmox servers to ESXi. It took a 3 months and another server as a staging point. A minuscule in modern times 1TB+ VM took a whole weekend to be moved. Of course it didn't work in that time.