bhyvecon was held at the same time as AsiaBSDcon, Mike Larkin & Reyk Flöter were invited to speak. I think OpenBSD vmm/vmd was announced around the same time, so it became an informal "BSD virtualization" event.
Mike's original announcement of virtualization support answered the 'why' regarding porting another hypervisor, but honestly for something as security critical as this, I'm glad they took their time to design something for OpenBSD's needs.
Solaris' port of PF is not out of date. _And_ they are working with upstream to merge their changes so both parties have a) better code, and b) less maintenance burden.
I also found some slides from the authors of vmm/vmd:
http://bhyvecon.org/bhyvecon2016-Mike.pdf
http://bhyvecon.org/bhyvecon2016-Reyk.pdf
(found on https://wiki.freebsd.org/bhyve)