Metaverse is dead, long live the Metaverse.
What most non-gamers who want to build a Metaverse don't get is: you have to build an engaging game first, THEN the user interface (like VR goggles) to make it fully emergable.
Star Citizen is an example for this kind of game (World of Warcraft, which just turned 19 years old, is another).
Look at this game trailer which is a 25 minutes one-shot. No loading screens. Fully explorable galaxies from the deepest caves to the furthest stars.
This is not a game, this is an alternative world. A simulation that will make many people prefer to live in that simulation compared to their real lives.
The Metaverse will come, but slowly and through these types of games.