Answer: Doesn't serve a purpose.

The Metaverse and OASIS from Snow Crash and Ready Player One were both created as a direct result of the in-fiction collapse of physical society.

Now it may be that Zuckerberg is actually the most incredibly devious Bond Villain ever to exist and had this multi-decade plan to use Facebook to disrupt western society to the point of collapse and then use this to sell everyone a VR headset.

Given that Meta's best use for the infinite imagination of VR is a boardroom with a whiteboard I don't believe this to be true.

In other words whilst society is worth saving and videogames are a nice temporary distraction from the stresses of everyday life we don't even need a Metaverse.