For dedicated environments the customer gets billed for the hardware, including electricity, cooling, ... + VMWare-licenses. For this particular case I need a correct billing as I stated before. For a shared environment, where hardware-costs must be included you are perfectly right, but that is not the problem here.
This particular customer hosts 8 VMWare-nodes, each of 96GB RAM. For hosting these 8 nodes and the storage we charge him an amount X. What we need additionaly is charging for the VMWare-licenses. If we would charge only by the physical RAM, that would be 7x96GB (one failoverhost excluded) = 672GB vRAM! As the licenses are charged only by vRAM-usage, we won't charge the full 672GB. As charging for every GB in a VM gets very expensive for large VMs, it would be completely uninteresting for large companies, that was something VMWare realized after several complaints from hosters and introduced the 24GB vRAM capping.
To get an idea of the dicrepancy of what chargeback would report now and what should be correct:
4 VMs with 64GB vRAM
4 VMs with 32GB vRAM
chargeback would charge 4x 64GB + 4x 32GB = 384GB vRAM
correct would be 8x 24GB = 192GB vRAM
now say we would charge 4$ per GB vRAM. Chargeback would charge 1536$ per month, but the correct value would be only 768$ per month. Count some more VMs in and you get the idea.