the "metaverse" was not a failure. It had nothing to do with what we may think.
It was part of a big rebranding strategy for Facebook.
After the Cambridge Analytica disaster Facebook needed to disappear. This metaverse thing fit like a glove and they used it to refocus public attention to a shiny new thing.
It was never about a new interaction paradigm in the internet.
It was all about "stop talking about how bad we are".
In this perspective it is a big success. Public attention shifted from "Facebook helped Trump election" to "look how crazy this metaverse thing is".

now I expect that asslicker P.O.S. to rename his company once again.

It was doomed because they didn't pay any attention to Second Life.

I feel like the only single person in all the entire world who couldn't see that it was doomed from the start was Zuckerberg himself. I can't begin to imagine how frustrating that must have been for all the people who had to work there.