Ready Queue is the percentage of time that there is work to be done for VMs, but no physical CPU (Central Processing Unit) available on which to do it (i.e., all host CPUs are busy serving other VMs).
So, if you have 5 VMs with 4 VCPUs, and they’re on a 16 CPU host, that means that no more than 4 VMs can run a process at the same time. One of those VMs has to wait in a ready queue.
It is an on-prem commodity in the Turbonomic market, meaning it can be bought and sold.