Good luck getting a Windows 10/11 VM that is as performant as a local one for $99/yr. Last time I checked a 2vcpu 8gb Windows365 Remote worker VM was like $35/mo. Even with <20ms latency it's an inferior experience to a Win11 VM in PRL. VMware charges money ($200) for their hypervisor. Windows effectively costs $0 unless you are an enterprise customer.
I do understand a little bit of your frustration, In linux there is usually a powerful free alternative that just requires some extra time and learning, but in apple world you just build your product on FOSS then slam the door on the community. You can see a lot of evidence that parallels pulls heavily from virtio and open-vm-tools
Even though I don't really use it much, coherence (unity) is a compelling feature, and there's other little things that add value. I have actually never had a GUI VM feel as "native" as Parallels, I got close with a heavily modified vmx file in VMware workstation