As a gamedev who is running his own (small, indie) studio.. That "cost of setting up and running an MMO gamedev studio for 12 months" is absurdly low; it's at least an order of magnitude off and possibly two depending on how big a studio we're talking about.

Which means that the metaverse funding of $240 billion/year would actually only fund a mere 24,000 reasonably-sized MMO game studios per year.