I ran libvirt in the parameters of the qemu-system-x86_64 command and found that it created multiple PCIs:
/usr/bin/qemu-system-x86_64 \
...
-device '{"driver":"pcie-root-port","port":16,"chassis":1,"id":"pci.1","bus":"pcie.0","multifunction":true,"addr":"0x2"}' \
-device '{"driver":"pcie-root-port","port":17,"chassis":2,"id":"pci.2","bus":"pcie.0","addr":"0x2.0x1"}' \
-device '{"driver":"pcie-root-port","port":18,"chassis":3,"id":"pci.3","bus":"pcie.0","addr":"0x2.0x2"}' \
-device '{"driver":"pcie-root-port","port":19,"chassis":4,"id":"pci.4","bus":"pcie.0","addr":"0x2.0x3"}' \
-device '{"driver":"pcie-root-port","port":20,"chassis":5,"id":"pci.5","bus":"pcie.0","addr":"0x2.0x4"}' \
-device '{"driver":"pcie-root-port","port":21,"chassis":6,"id":"pci.6","bus":"pcie.0","addr":"0x2.0x5"}' \
-device '{"driver":"pcie-root-port","port":22,"chassis":7,"id":"pci.7","bus":"pcie.0","addr":"0x2.0x6"}' \
-device '{"driver":"pcie-root-port","port":23,"chassis":8,"id":"pci.8","bus":"pcie.0","addr":"0x2.0x7"}' \
-device '{"driver":"pcie-root-port","port":24,"chassis":9,"id":"pci.9","bus":"pcie.0","multifunction":true,"addr":"0x3"}' \
-device '{"driver":"pcie-root-port","port":25,"chassis":10,"id":"pci.10","bus":"pcie.0","addr":"0x3.0x1"}' \
-device '{"driver":"pcie-root-port","port":26,"chassis":11,"id":"pci.11","bus":"pcie.0","addr":"0x3.0x2"}' \
-device '{"driver":"pcie-root-port","port":27,"chassis":12,"id":"pci.12","bus":"pcie.0","addr":"0x3.0x3"}' \
-device '{"driver":"pcie-root-port","port":28,"chassis":13,"id":"pci.13","bus":"pcie.0","addr":"0x3.0x4"}' \
-device '{"driver":"pcie-root-port","port":29,"chassis":14,"id":"pci.14","bus":"pcie.0","addr":"0x3.0x5"}' \
-device '{"driver":"pcie-root-port","port":30,"chassis":15,"id":"pci.15","bus":"pcie.0","addr":"0x3.0x6"}' \
-device '{"driver":"pcie-pci-bridge","id":"pci.16","bus":"pci.6","addr":"0x0"}' \
...
It seems that qemu only creates one PCI by default. Is there any benefit to creating multiple PCIs for virtual IO devices?