No, the fundamental problem isn’t the recreation of real life. Rather it’s that real life isn’t mirrored in ways that are important like having agency to pull of systemic changes something I’m having a hard time articulating. What I can say is that Eve online pulls off certain aspects of this pretty well.
Corporations pouring millions into flashy, pointless projects using a bunch of Excel seems pretty realistic to me, the lasers and starships aren't, sure.
It’s not but there is an aspect of complete freedom to do things outside the bounds of prescribed interactions is what I’m getting at.
For instance second life might be a lot more interesting if you could kill someone, assume their identity and pull off other such shenanigans. At the same time there should be real user “law enforcement” continually tracking down criminals of this nature. Being arrested should mean real jail time/account suspension for a fixed amount of time etc. Criminals should get a real user driven trial where they can argue their case, real user lawyers you can hire etc.