I had the impression that, virtualization was not possible on current M1. As I sadly discovered that docker didn’t and won’t run on current silicon. Is it still possible for parallels to move forward without virtualization ?
It is possible, but docker is not yet ported. The docker images you run will have to be ARM images, as docker cannot emulate x86. Docker supports multi-arch images with their buildx infrastructure, so this situation will fix itself over time. Most of the official base images already support ARM.
Virtualisation within the x86 emulation isn't possible. So you can't just run the x86 build of parallels and have it work. But it should be possible to build a new dedicated ARM version of parallels.