Re: Build it and they will come...
I don’t think VMWare uses the “recompile model” at all anymore. That model was only necessary to overcome limitations of the x86 model that not all privileged instructions were trapped when running outside ring 0. Some simply failed or just behaved differently. VMWare rewrote those on code load so they could be emulated. Commentators had been saying for a long time that virtualisation was not possible on x86 due to architecture limitations. And the chip designers didn’t see any demand. Once that loop was closed and the architecture extended, VMWare moved to using the hardware virtualisation as it has higher performance.
I don’t know what happens if you run VMWare on a really old CPU now - it may still have the software virtualisation code lingering somewhere, but I suspect it will just refuse to run....
Anyway, a long way of saying that the original VMWare model is probably not necessary on any other CPU as they have had the benefit of seeing the x86 issues and avoiding them.