Code running as a VM in the Xen hypervisor is not really the traditional sense of "Bare Metal".
Even with RumpRun on true bare metal, should that be called "Bare Metal Erlang"? It's not like the erlang code manages the raw memory, contains a driver for the hard disk controller etc.
Clearly there are fewer layers between the erlang code and the bare metal compared to a traditional OS, but still plenty and they do quite a lot of work.