To be clear, you can't run an x86 Linux VM on Apple Silicon using Apple's virtualization framework. It says right in the docs,
>The kernel and RAM disk image must support the CPU architecture of your Mac.
You _can_ run x86 via Rosetta inside the VM. But that's not the same thing as running an x86 VM.
To answer your question, Lima supports two VM types - QEMU and vz. QEMU is the default and is what's used by other projects to run x86. If you select a vz VM type then it uses MacOS' native APIs. I wouldn't expect a performance improvement in using a vz-typed VM with Lima and Apple's own instructions.