You are right, I can't prove the validity of "users are finding utility from the Metaverse". I somewhat can argue that the device itself is indeed useful though:

https://patentpc.com/blog/vr-headset-sales-stats-whos-leadin...

20 millions is not nothing, it means that at least some people find these useful, and I can understand why, even though personally I wouldn't touch it.

Also, I believe VR had similarly distorted expectations as LLMs, with the whole Meta rebranding, Apple VR etc., all it being a flop from the point of view of investors (and, in the case of Apple VR, a good portion of users):

https://nypost.com/2024/11/12/tech/apples-vision-pro-flop-co...