I feel that Facebook's metaverse push is a desperate attempt to reverse the evolution of our identities from baseline, offline, unitary identity towards constructed and abstract, online, contextual, anime girls form. I don't know precisely why it's always specifically anime && girls, but everything else seems to fall face first so I guess it's survival of fittest.

I agree with everything except for the billions of dollars part. It seems quite obvious (but maybe I'm wrong?) that most of that investment went into the hardware that Meta has been developing over the years, and some of the "platform" capabilities that surround that hardware (think their app store for example). Sure, the virtual experiences are part of it. But I think it's not where the majority of the money went.

They currently have the most popular VR hardware platform. And it's the only piece of hardware that Meta really has, everything else they make is software. If Meta wants to keep growing, being the leading producer of "the next big thing" in hardware would certainly help. Zuckerburg is betting on VR/AR being that next big thing. Only time will tell I guess. But I find it a little weird when I see people commenting on Meta's investment as if all they did was create a basic second life clone. They're building some of the most innovative consumer hardware at the moment. I'm not hugely into it because Meta doesn't really seem like the company I'd like to entrust with cameras pointing at my eyeballs, but you can't deny that the hardware they've built so far is quite impressive.

Near as I can tell, second life seems to have around 40-50k typical users online.

Which is sizable, but not amazing.