No dedicated hardware required. Bridges can be placed on virtual interfaces. You often see this happen with things like VMs and containers but you don't even need that specifically.
Yep. Just finished teaching a networking course using the pi as the basis for labs and projects. Had a scenario that required students to set up a bridge. Just plug in a couple of usb network adapters.
You can also do this with a VLAN interface. At my recommendation, a friend set up Raspberry Pi at home connected to a VLAN capable switch to break that one Ethernet interface out to 7.