Indeed it was predictable from the outset that Meta would most likely be a dead weight for Facebook, maybe even the rock it dies on.
This is despite me being actually a big fan of a proper metaverse..
I firmly believe we will see one, just one, with most of the attributes you mention.
A futher requirement I would put on it, is that it must not be dependent upon extracting wealth from users, for its existaence.
In fact it should pay users to use it, I would say, it shoul have an internal UBI.
That is possible, if it is entirely solar powered.
Then we will start to see what I used to call the "Superhuman" use-cases, during my own work including as PhD candidate.
Meta, can't even come close to the functionality wie will see in a solar powered stimulus based platform.
There, I think we will see the first ever case of a Metcalfe utility facter much greater than 1, and with time we will see that climbing ever higher.