what the hell is the metaphor in "Metaphor: ReFantazio" anyways

Short answer, it's a metaphor for real life (ugh, boring). Slight spoilers ahead for the game, but I'll try to keep it minor.

As soon as you open the game, you are prompted to enter both your name and the main character's name. I thought it was a strange distinction to make--acknowledging immediately out of the gate that you, the player, are a separate entity guiding a fictional character on their journey. It's not the only time this game breaks the fourth wall, but the purpose of such is tied to the metaphor the game is pushing. Honestly, it feels less like a metaphor and more like a one-to-one analogy.

I should also mention that this game pulls heavily on Thomas More's idea of Utopia (there is a character literally named "More," who is supposed to represent Thomas More).

https://www.thegamer.com/metaphor-refantazio-more-bond-task-unlock-rewards-guide/, main character pictured on the left, and More on the right.

Throughout the events of the game, the main character will read chapters of a "Utopia" that eerily describes our real world--a sharp contrast to the fantastical realm that is the setting of Metaphor: ReFantazio. However, this "Utopia" described by this world's Thomas More fails to mention any of the bad of it. Of course, otherwise it would not be a true utopia. But this very obvious omission creates a strong tension between the player (you) and the character you're playing as. You are cursed with knowledge of the real world while subjected to an idealized vision of it--an idealized vision this character relentlessly marches towards.

That's not to say this idealized view of our world is false--rather, it is simply an incomplete picture. I think this is something the main character does come to realize, at least towards the end of the game. Echoes of his world can be found in the our "utopia": discrimination on the basis of race and class is something that is extremely prevalent throughout the game, along with contrasting ideas of monarchical, authoritarian, and democratic rule. Anxiety plays a massive role in this game, literally manifesting into twisted magic, hideous beasts, and monsters (the worst and most powerful of which being called "humans." Interesting). These echoes reveal themselves due in part to the driving event of the game, the "Royal Tournament."

After the death of the former king, the king's magic decrees that the next king will be decided by the people. A democratic turn in what was typically a monarchical society. Whispers of authoritarianism rear their ugly head through the main antagonist, Louis Guiabern. Oddly enough, Louis and the main character have similar goals--namely, equality. However, Louis's idea of equality is less "everyone is deserving of equal rights regardless of origin" and more "scorched earth."

But he doesn't let the player on about that until much later. In the beginning, he parades himself as a savior; and without even participating in this tournament he begins by winning the popular vote. As an elda (regarded as the "lesser tribe" throughout the game), the main character has a much more difficult time competing with him. Instead, the main character has to connect with the people of the country and form powerful bonds with people from all walks of life. An idealistic fantasy story, really. Pulling again on the aforementioned tension of what we might envision as the archetypal fantasy story, and how our own world is idealized throughout the game. Metaphor: ReFantazio flips this dynamic on its head by emphasizing the bad in the fantasy, while simultaneously highlighting the good of reality. The two are then interchangeable; they are two sides of the same coin. This harmony between seemingly opposing concepts prove that utopia is impossible.

So the game itself is a metaphor, or perhaps a fantasy-tinted mirror, of our own flawed world. The themes of humankind's will, perseverance, and struggle, are all deeply intertwined with a message of hope directed towards you, the player. That you, too, can dream a fantasy out of your own future--and that you can (and should) pursue that dream.