Is it actually run in an Android VM?

I use an OS as a step to run applications. Why would someone use Sailfish if it can not run applications, or do they expect mobile development firms to start supporting a distant third OS? Serious question, there is a real chicken and egg problem here.

I think that I have simple needs from a mobile OS. CalDAV and CardDAV sync, provide a mobile hotspot, record calls. On Android those functions are provided by applications - so I consider myself a user of these applications, not a user of Android. I'm probably the ideal customer for a Sailfish OS, so long as it provides these features or can run apps that do.