Feels like it misses the point. The "openness" of the web meant that anyone that could use a text editor could have a website and everybody could access it (and most of it worked perfectly if users accessed it asynchronously). The barriers to having your own coherent shared 3D experience a lot higher (and the entities that do it well aren't particularly interested in opening it up to everybody else)

And of course the blockchain still feels like a solution in search of a problem. A blockchain isn't a solution to the problem of "anyone can design their avatar to look like anything they want" because the blockchain isn't a design restriction, and if you've got entities deciding that only the owner of a particular token can have a particular style of costume, that looks quite a lot like centralisation.