A USB bus must have a tree structure, with exactly one USB Host Adapter at the root of the tree. The Host Adapter will be responsible for overall control of the entire bus.
Connecting two basic USB Host Adapters together with just a simple cable with USB-A connectors on both ends will never work and is explicitly against USB specifications. That is a non-starter.
The "virtual ethernet bridge" you've seen is not just a cable, but it includes some electronics (probably inside one of the connectors) to make the cable work like two USB Ethernet adapters connected together with a short Ethernet cable.
You could in theory do something similar by connecting two USB-to-serial converter chips back-to-back, but that would be just throwing away most of the speed of the USB bus, without getting the kind of minimal latency the handshaking signals of a RS-232 UART wired directly into an IRQ signal can offer. There would be no advantage in doing that.
A RS-232 serial port has fully independent TX and RX lines; USB has a single differential pair of data wires that are both used for receive and for transmit, and most USB host adapters have dedicated hardware circuits for differential signaling, and they cannot be easily bypassed. The two other lines are dedicated power lines, and might not be controllable at all.
A USB On-The-Go (OTG) cable (as mentioned in the question comments by Giacomo Catenazzi) cannot have a regular USB-A connector on both ends, because it needs either the 5th pin of the Mini-AB or Micro-AB connectors, or the equivalent systems of USB Type-C, and a dual-mode USB controller that can work both as a USB Host Adapter or as a USB Device. The extra 5th pin of the Mini-AB or Micro-AB connectors is used to select the initial mode of the dual-mode USB controller it's plugged into. There is also a specific protocol for flipping the host/device roles around if necessary.
One end of an OTG cable could be regular USB-A, but the other must be Mini-AB, Micro-AB or Type-C. And as noted above, the system at that end would need to have a dual-mode capable USB controller.
In Type-C, the host/device role is just one of the several optional negotiable things on the connection, like various alternate modes and power delivery.