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Most importantly, the creation of metaverse would solve the consumption part of the equation beyond transportation.Will people eat less meat because of the metaverse? No.
Will people be happy with "virtual travel" as a substitute for actually visiting places? "Hey guys, look at these cool screenshots of my avatar in the virtual Desert! Hello? Anyone? No? Okay..."
Will peoples homes require less energy if we all stay at home all the time? No. In fact they will require more: AC, heating, lights, and all these VR devices which are suddenly online 24/7...
Also, work-in-VR may be possible if one is in design, management, or as a coder, etc. ... but blue collar workers will still need to get to the their factories, construction sites, supermarkets, etc.; as will doctors, nurses, hairdressers, cleaning personnel, delivery people, technicians, security personnel, ... aka. all the people who actually keep the system going.