> […] VMs are not magically different: they are better isolated, but VMs on the same host still share the host in common.

VMs are not different due to 'magic' but through hardware assist with things like Intel VT-x and AMD-V:

* https://en.wikipedia.org/wiki/X86_virtualization#Hardware-as...

* https://blog.lyc8503.net/en/post/hypervisor-explore/

* https://binarydebt.wordpress.com/2018/10/14/intel-virtualisa...