Virtual world is easy. Virtual world where you are immersed beyond having the camera on your head is pretty much impossible. We don't have an idea for what tech would be required for that. There's a large gap between moving your character with a control stick and "being" in the game like in the movie implied.

We don't have the tech to do massive enormous orders of magnitude larger than typical MMO servers.

And of course the movie was some sort of dystopian web3 nightmare without considering the evil tech CEO. It showed the characters having fun going to doom world for PVP with real money and permadeath at stake. The main characters father loses everything because he dies in the game. But it was fine because the main characters were talented so it looked fun. This isn't a requirement for a virtual world of course, but the concept of the VR economy implies the game needs to be a lot less game and a lot more business. Not a spunky playground where you, a non pro gamer, will be able to do anything noteworthy.