I OK. I’ll bite.
Like you, I want a virtual Balance.
Every single year I ask all the right people in Peplink for a virtual balance.
I’m not quite as brazen as your - ‘I like your stuff but you don’t know what you’re doing when it comes to hardware for the masses, so let me build a cheaper product’ approach.
but I am close to that. I’m super focused on the datacenter angle.
I actually want to use it in virtual datacenters where I can’t run B2500’s because I can’t co-locate hardware but lets be honest if I could use a virtual balance I’m going to build a Frankenstein routing monster with 100gb SFPs just for fun.
And yes, I’d likely install it on a mini PC like the Gowin R86S and make a kick ass home router with 10Gb SFPs for a few hundred dollars.
This idea of homebrew Peplink is not revolutionary.
Back in 2005 you could actually download ‘Peplink Debian’ to build your own Managed Adaptive Network Gateway Appliance (that’s what Manga stands for of course) and Peplink actively encouraged us engineers to buy their hardware and build on top. If you know where to look you can still find v1.8 of the Peplink firmware on the internet:

But I digress. The question is why won’t Peplink do a mult-wan virtual appliance. In my opinion, that is linked to retaining brand / user experience control and why Peplink stopped doing the Peplink OS and software dev kit back in the early 2000’s.
Brand / user experience because they will get calls from angry customers who will be all negative online about Peplink because some muppet corner cutting ‘Partner’ has installed a virtual balance appliance on an under powered NUC running ESXi and stuffed it in a hot cabinet where it overheats and CPU throttles and as far as the customer is concerned they have bought a Peplink appliance and its not fit for purpose.
And why did they stop doing the very cool homebrew OS? Because the level of support overhead required to help others use their tech on 3rd party hardware is nuts.
Now hardware compatibility is less of an issue today with Proxmox and KVM and others that are mature and a lot of us have significant virtual hosting hardware investments ready and up for the challenge, but there will be a massive increase in support overhead anyway.
I was still in Peplink when FusionHub launched (I actually built the first web page and designed the logos for it) and I remember how crazy things got almost immediately. So many questions about performance and configuration options and approaches to using it.
Imagine the level of support we are all going to ask for if we start using a virtual balance in production and how upskilled Peplink support will need to get in modern virtualisation platforms to be able to assist and track down issues…
But. That said. They really should sell a virtual balance appliance. Maybe restrict it’s sale to Authorized Solution Providers at the start to limit support exposure. Other networking vendors have virtual appliances licensed as you suggest by capacity - its not a new idea and it is the way the industry is going.
The worry will be that it cannibalizes the big balance product sales but I don’t think it would really. I suspect there are big new markets and use cases out there that a virtual balance would open and I know there are lots of organisations who will always want to buy a physical balance appliance over a virtual one.
So I will continue to, twice a year, ask for a virtual balance.
And I do expect to one day have one, just perhaps not yet…