Generic VGA doesn't generally exist on EFI platforms, the firmware doesn't program the card into a state where the VGA registers are going to do anything useful. You should get a working unaccelerated framebuffer from the firmware, though.
Technically not related to Solaris, since Solaris x86 existed and you wouldn't need it there, but yes, this was used on Sparc and any other CPU unable to run the card BIOS (including 64-bit x86 Linux, since virtual 8086 mode goes away when you're on long mode)
I just had a look at the install of ancient NetBSD I have running on my Pocket386, and the X server in there (which is XFree86 3.x) does have a generic VGA driver that does 640x480 at 16 colors just fine. I'm not sure what the "default settings" would be in this context since X that old doesn't even start without a proper XF86Config.