Virtual reality is transforming its image from just a gaming technology and spreading to mainstream industries. Whether we will ever be able to achieve immortality, I am not technically sound to answer this, but it is believed to be possible.
But to create another world close to one we reside in physically wont be an easy task honestly. Whether it will help us improve the present one by identifying the loop holes, it depends on how honest we are while creating the new one.
Yes. I agree. We already know that social disparities and greed has had a negative impact on our society. I think technology will somehow resolve this issue. A VR world will not be same as the physical one. It will mostly be like an extension to what humans ever really cared for, with no space for greed or disparity.