What Apple has said is that you can't run existing x86 virtualization applications on top of Rosetta 2. So you can't take the copy of Parallels you have today a

What Apple has said is that you can't run existing x86 virtualization applications on top of Rosetta 2. So you can't take the copy of Parallels you have today and run it on Rosetta 2. Which make sense, since that would be running emulation on top of an emulation--likely to be super slow. Instead, what you will do is get a new version of x86 virtualization applications (like Parallels) that run directly on top of Apple Silicon--in other words, you use them instead of Rosetta 2, not on top of Rosetta 2. That's what easton is talking about, above.