His argument is pretty poor. The fact that the average person couldn't define the metaverse doesn't mean they wouldn't enjoy it when it is offered. The average person couldn't define a model T before Ford started building them. He also seems to fall into the same VR/AR trap that Meta is in. I'd call VR/AR one potential why to interact with the metaverse but not a defining characteristic.
My personal view is that the metaverse will come and it will be an evolution from a popular game such as Roblox, Minecraft or Fortnite.