Edit: when I say anything, I'm not talking user programs. I mean as in, before even the first instruction of the firmware -- before even the virtual disk file is zeroed out, in cases where it needs to be. You literally can't pause the VM during this interval because the window hasn't even popped up yet, and even when it has, you still can't for a while because it literally hasn't started running anything. So the kernel and even firmware initialization slowness are entirely irrelevant to my question.
Why is that?