My experience is that the Realizer A16 provides an almost fully realistic recreation of real speakers in real rooms. It feels real except that your body doesn’t get the visceral bass jolt that big speakers provide.
It is designed to replace a 16 channel speaker setup but works really well with stereo. When I visited Dolby studios in SF a few years ago, they had several A8s still in active use - it is a real professional tool.
Other software solutions like Virtuoso typically don’t have the processor speed and dedicated hardware to come close, although I haven’t heard every alternative.