Is it really not possible to run Intel based MacOS VMs in Parallels M1 Host?

I have the habit of saving my old computers as a VM image and running those in Parallels if I need to get something from them.
I bought of the new Macbook Pros and I am discovering that I can not run my old VMs in Parallels.
I am very disappointed.
Will it be possible eventually to run Intel based MacOS images in M1 Parallels Host? With some sort of translation layer maybe?
Thank you

 

Thank you for the response. While that's not what I wanted to hear, I appreciate the help. Cheers