I hate to be the one to bang on about standards, but the cyberpunk vision of the Metaverse -- and I am aiming at kind of a bog-standard middle ground of it -- will depend on some very open standards that are decentralized at the core, starting at
Snow Crash and ending in the John C. Wright "The Golden Oecumene" sense of things.
Anything but an open and radically-decentralized interoperable set of standards and you're Running On Someone's Specific Hardware. That means that they and the country (or other municipal structures) might have opinions on what you can run on their hardware, and thus the Four Horsemen of the Infocalypse will be invoked at the start.
As you slide toward less interoperability and more corporate/government control, you're going toward the Johnny Mnemonic territory (maybe without the cyberdolphin). You'll have to hack your way around the place, and that means that the ordinary folks are left out. They might not have the smarts, the hardware, the wetware, and so on.
Further levels of control and you're into Second Life -- one platform, one company, but perhaps some local rules/anarchy. And if you're still thinking of the children, the Metaverse eventually looks like Club Penguin. You can finally rest assured that the concept is functionally dead when we are all sending each other only various emojis of unrealistic skin tones.
So, the question then becomes, does anything in the Facebook/Zuckerberg history suggest where on that spectrum we will land?
As a side note, I believe that pretty much any version of this Metaverse means targeted ads. On the controlled side, the people running the hardware will want money, and that means ads. On the uncontrolled ads, randos will want money, and that means that they'll do whatever they can to sniff your activity and monitor you, and then send you ads.