VApp permissions are needed when the VApp provisioning mode is used. #2866
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I have found that based on currently available documentation / suggestions around using Node Templates with Distro Images and setting VApp properties to control IP addresses through network protocol profiles these VApp permissions are required on the cloud credential rancher is using or the provisioning will fail with a Permission denied error.
VCenter 6.7 U2.
Rancher 2.4.10