I never used VRChat, so no idea what it's like.
VaM is a soft-body physics sandbox mainly used for sexual actions and interests. There's no social aspect built-in, and I'm going to bet there won't be either for 2.0, natively at least, maybe someone can expand that with a plugin.
One of the features present is called possession, and as the name goes, you get to control a person atom depending on the equipment you have and how much you want to control. A common use of possession with VR headsets that most people have, headset + 2 controllers, is to control the head and arms, but a controller can be assigned to a hip, a foot, etc. And if you have trackers like the Vive system, then you can have multiple control points and do a lot more, there's several creators making MOCAP animation like this and with suits, etc.
While possession is built-in, I suggest you use the excellent plugin
Embody from AcidBubbles, which gives you a much improved experience and customisation.