Define "operating system"? It's not crazy to think that you might have another layer inside your VM, not unlike how a hypervisor was one layer that didn't exist outside of mainframes until adapted for regular computers.
Not necessarily. One of the ideas behind unikernels is very fast boot time, so that you can start a new instance for every tenant. Another idea is reduced complexity...
http://www.ibm.com/developerworks/library/j-multitenant-java...