The field is in its "90's internet phase" right now. The tech is still immature, but is rapidly growing in capability and ambition.
Just like most people in the 90's had no idea how "internet" would be used, I think our ability to conceive of VR/AR/XR/metaverse is similarly myopic.
I would give it a 10-15 year timeline before it fully eats the world. But now is the time to build.