WSL2 tells us a lot.
First, Microsoft is really making it more known that WSL has no Linux and is just Ubuntu (or whatever) on the Windows kernel.
Second, Microsoft is making it clearer that there was no virtualization going on in WSL.
Third, now there is Hyper-V and a Linux kernel involved. So now it is just virtualizating a Linux instance on top of Windows.
Fourth, now it is much faster. That means that Linux on Hyper-V is faster than Windows on bare metal!