We already have a reality. It's called reality. The entire value proposition of computers is to do things reality couldn't already do. Replicating reality, but poorly, is a complete and utter waste of time.
Or, to put it another way... no, the metaverse isn't happening. Or to put it yet another way, it already happened and the silly science-fiction descended ideas about what it would look like are as silly as the idea that in the future everyone will constantly wear form-fitting jumpsuits.
The metaverse is an actively stupid idea. When the useful bits and pieces are reified over the next couple of decades, I'll still be right, because those things won't be "the metaverse", they'll still be extensions of the real things that are not only happening now, but have already been happening for decades, including yea verily this very site we're communicating on right now, which would not even remotely be improved in any sense whatsoever by being "in the metaverse".
[1]: https://jerf.org/iri/post/2916/ (Rereading that ten years later, it seems education has hardly gotten anywhere. Still BOAC-ville.)