The marketing copy appears, on this basis, to be somewhat misleading. It says on the site that this is a cloud where "multi-tenant containers can inherently be run safely side by side on bare metal, instead of being nested in VMs".
I think that, as an industry, we've established that "bare metal" execution of workloads means _without_ the multi-layered approach of a hypervisor (itself an OS) running a separate guest OS kernel.
I wouldn't use the word VM, as it reminds us of the heavy full-blown images. It is probably more misleading to say that HyperContainer launches your Docker image in VMs. But you are right, it is still new and requires efforts to get people understand.
That's a stripped-down, guest OS on virtualized platform. Basically same sort of thing that's common but with some differentiator.