This is super cool. This exploit will be one of the canonical examples that just running something in a VM does not mean it's safe. We've always known about VM breakout, but this is a no-breakout massive exploit that is simple to execute and gives big payoffs. Remember: just because this one bug gets fixed in microcode doesn't mean there's not another one of these waiting to be discovered. Many (most?) 0-days are kno…
The problem is, VMs aren't really "Virtual Machines" anymore. You're not parsing opcodes in a big switch statement, you're running instructions on the actual CPU, with a few hardware flags that the CPU says will guarantee no data or instruction overlap. It promises! But that's a hard promise to make in reality.
IBM's VM was and is a hypervisor. It dates to the mid 1960s, in the form of CP-40, and it didn't run opcodes in software, but in hardware.
https://en.wikipedia.org/wiki/IBM_CP-40
p-code machines, which interpret bytecode, date back almost as far, such as the O-code machine for BCPL.
https://en.wikipedia.org/wiki/BCPL
Getting people to distinguish between these concepts is probably a lost cause.