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Why did the metaverse die? Because Silicon Valley doesn’t understand the concept of fun
(www.fastcompany.com)
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The main problem is that they only focused on how much money they could make, and forgot to make it somewhere people actually wanted to be. Basically the developer equivalent of "here's the deal, you do something for me-" then they never finish the sentence.
They did the reverse enshitification, do it shit first and then.... wait what then?
That said...it is VR although is getting bigger still plenty of people without headsets or people with issues with them.