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Why did the metaverse die? Because Silicon Valley doesn’t understand the concept of fun
(www.fastcompany.com)
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If there was any potential in a "metaverse", it would be picked up by people who know how to make something fun. In Silicon Valley or somewhere else.
That's not happening because the metaverse is pointless. Most people prefer having multiple tabs in a browser to do online shopping, chatting with friends, etc rather than moving a 3D avatar from a virtual supermarket to a virtual cafe.
If computer interaction benefited from being more 'like reality', then Microsoft Bob or any of the countless other attempts to create a reality- and/or 3D-based computer interface, would have caught on long ago.
This has been tried and tried again, and it never catches on. Computer interfaces that are completely detached from physical 3D space are just much more flexible and easy to use.