As it turns out, GVM is still a live project! Not sure why their site is down, seems like just a lot of old documentation links to a site they decided not to use. After asking around the discord it seems like LibVF.IO isn't a dead project exactly, but the only way to work with up-to-date things is to manually find all the tools it uses and set everything up yourself. The teams working on all of that stuff are a lot more focused on functionality than public guides and documentation.
tldr; The space isn't dead! Just low-population, and busy making things actually work.
I for one am pretty excited for this stuff to become more accessible, anyone else? I'm trying to wrap my head around the whole setup they envision so I can maybe help contribute, so if anyone is in the space and wants to give a run down on the whole process of getting a vGPU setup and into a VM, that would be a good addition to this thread!