Yeah that is real impressive, I thought we would be years away from the realistic meta avatars becoming usable on actual hardware. I don't really understand what's so metaversey about this though, Apple showed off the same concept with no ties to the idea of metaverses.
EDIT: I watched a bit more and hearing Mark's ideas of the metaverse he wants honestly sounds very similar to the plans and sdk's for the Apple Vision Pro. I don't know if this is truly what the future will be, but it seems exciting.