The two VMs are actually assigned 4096MB of RAM each. VM2's value reported by "StaticMemoryEntitlement" is close to its OS' view, but not for VM1.
I only list two VMs here. My actual report has a large number of VMs. Mismatch is about 90%. Some VMs have 8192MB of RAM, but "StaticMemoryEntitlement" only shows 4425MB. vSphere Client must use something different.
