For me, the primary draw of OrbStack is that it is very fast, which matters for me, as I wind up doing a lot of compute-bound things in containers. The fact that it provides a great dev experience similar to WSL2 is just a bonus.
I think the main bottleneck in most macOS virtualization solutions winds up being I/O related. Docker Desktop and OrbStack both have custom solutions for bidirectional filesystem bridging and network integration, but for me OrbStack is much faster. OrbStack also can choose between using Apple Rosetta and qemu usermode for running Intel software on Apple Silicon.