The spec sheets list the Malibu vRide 2008 as sv23 wake and the Malibu Wakesetter VLX 2005 as modified vee, so check how each hull rides in the conditions you use before you decide.
On paper these two are close siblings in the size department - Malibu vRide 2008 at 21,0 ft versus Malibu Wakesetter VLX 2005 at 21,0 ft. Weight tells a clearer story for trailering families: the Malibu Wakesetter VLX 2005 tips the scales at 3 600 lbs - 600 lbs less than the Malibu vRide 2008 at 3 000 lbs. That difference is meaningful if you're working within a half-ton or three-quarter-ton truck's tow rating, especially once you factor in a motor, gear, and fuel.
Both boats share a closely matched power ceiling - 400 hp for the Malibu vRide 2008 and 400 hp for the Malibu Wakesetter VLX 2005. Real-world performance will come down more to which motor is actually bolted on, its load at the time, and whether it's a 4-stroke or 2-stroke setup. Fuel capacity breaks the other way: the Malibu Wakesetter VLX 2005 carries 46 gallons versus 35 gallons in the Malibu vRide 2008. On a lake day that's negligible, but for coastal cruising or long reservoir runs the extra range matters.
For family outings this is probably the sharpest distinction between the two. The Malibu Wakesetter VLX 2005 is rated for 11 passengers, while the Malibu vRide 2008 caps at 10. If you're regularly pulling extended family or a group of friends onto the water, the extra seats on the Malibu Wakesetter VLX 2005 could be the deciding factor.
Bottom line: Choose the Malibu Wakesetter VLX 2005 if your priority is putting more people on the water - it handles 11 passengers and at 21,0 ft it has the deck room to back that rating up comfortably. The Malibu vRide 2008 is the smarter pick if you want a lighter, easier-to-trailer boat rated for 10 that costs less to run day-to-day.