It does make sense to skip J1.6 for several reasons. One is that J1.6 contains a lot of bugs. Another one is that it doesn't make a lot of sense to invest a lot of time to make the
brand new VM2 J1.6.3 compatible and a week later J1.6.3 bug fixing stops because J1.7.0 will be released. However, VM2 RC2 and VM2stable might run on J1.6.3. A VM Team member is working towards this and most of VM2's current SVN version already works on J1.6.3 and J1.7 Alpha. From the users's point of view J1.7 is basically a J1.6.3 with 350+ bug fixes and very few new features. (At present the Joomla guys are a week behind schedule with their J1.7 Beta)...

I suppose the VM developers agree that making VM2 stable has priority over meeting certain release dates, which is what the Joomla guys did the other way round with J1.6 and probably one of the reasons why it was released with plenty of bugs.
The "fast-paced release schedule" of future Joomla versions will most of the time just be small update patches like most of us have seen in the past for J1.5.x. And the release of new Joomla versions doesn't automatically stop your VM shop to work. There are plenty of old VM shops online which haven't been updated to the latest version for years. Concerning VM2, 'Akeeba Live Update' has just been implemented into the system, so theoretically the developers could feed you with a VM2 update every day at 12 o' clock noon except on Weekends and Holidays

...But I'm shure most shop owners wouldn't want to deal with daily updates once their shop is online