This one specifically seems to run Android in the Linux Kernel using the usual suspects of container tech. It should have next to zero performance impact so it will definitely have better performance compared to the default Android emulator considering that's using qemu, even if it's qemu-kvm.

Whether it's as reliable as running a VM, is something that'll need to be tested. Personally I got an error when trying to exit out of the shell (and thus was unable to exit), something I've never seen in the VM version of Android.