Loup Ventures analyst Gene Munster said Monday that leaked documents from Meta Platforms (NASDAQ: META) showing slower-than-projected growth of its key metaverse platform represents a “clear-cut disappointment.”

In an interview with CNBC, the founder of Loup Ventures and the managing partner also suggested that the lack of dramatic consumer demand for the metaverse concept cast doubt on the timeline for the technology in general.

“[The news] begs the question, how long is the metaverse really here? How far are we from this really taking off?” she asked.

Citing internal documents, the Wall Street Journal over the weekend it reported that META has had fewer than 200,000 registered users in its Horizon Worlds offering, the centerpiece of its metaverse development.

The company had…