If you're interested, Folding Ideas did a video essay covering the metaverse and why it never really took off, that's really well done. However the main bullet points:

* Text is the bedrock of basically any content online and text is uniquely difficult to convey in a VR setting without being annoying. It either ends up just floating in space or you have to attach it to objects or you anchor it to a HUD, and a HUD has its own cavalcade of issues in VR around motion sickness. The most successful VR applications, paradoxically, involve the least text they can manage.

* In order to make things accessible to a wide market the applications have to be incredibly simple, to run well on bad hardware, which is uniquely difficult with a 3D space you have to render twice while maintaining high enough FPS to not give people motion sickness

* Most often any CTA in the environment would simply load a web browser, because you couldn't actually... like, buy a product in VR. You were redirected to an amazon listing or shopify website.

* And that's before you get to maintenance. Any intern can update a website. A VR space requires either a dedicated dev budget or accepting whatever janky building tools the platform ships with, which have never once been good enough to build anything actually worth visiting.

* Putting all that aside, there seems to be a substantial slice of humanity who just are not compatible with the tech. I myself enjoy it regularly, I had some issues with motion sickness early on, but toughing it out for awhile got me my "VR legs" as it were and it hasn't been an issue, but I've heard all kinds of things where people's physiology just rejects the headsets.

Overall I think it's just far better as a niche gaming thing and the only reason Facebook and others went so hard into the metaverse was to hopefully recreate the birth of the Internet, and to become landlords of a new digital frontier. And for that, fuck em.