Django batching/bulk update_or_create?

As of Django 4.1, the bulk_create method supports upserts via update_conflicts, which is the single query, batch equivalent of update_or_create:

class Foo(models.Model):
    a = models.IntegerField(unique=True)
    b = models.IntegerField()

queryset = [Foo(1, 1), Foo(1, 2)]

Foo.objects.bulk_create(
    queryset, 
    update_conflicts=True,
    unique_fields=['a'],
    update_fields=['b'],
)