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I've done this to build custom RPi images. Way faster than trying to build on a low power ARM platform, and way less fragile than cross compilers.

Same here, and it is blazingly fast for me running on a M2 macbook air using macOS built in virtulization framework to run an arm64 Debian.

Probably even faster on Asahi Linux, but having both macOS and a fast Debian at the same time is soo neat :)

Perhaps it's fast because M2 is already arm64.