Theories have been running rampant about what will happen in Spider-Man: Far From Home and how it will kick off the next phase of the MCU, but now the theories have been put to bed to make room for truths.
With the aid of trusted info I'll sift through the dirt and try to build a picture about the basic flow of the upcoming movie and what the future MCU might entail.
FINAL WARNING...... SPOILERS ARE AHEAD....
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Mysterio is NOT from another universe. Mysterio is who he always was and will be; a liar with a bag of tricks. He once worked for Stark, didn't care much for Tony and now wants to be the new Iron Man savior character. The multiverse may be real but this guy ain't from anyplace but this one.
There is NO post credits scene where Spider-Man (Holland) meets Spider-Man (Maguire) and Spider-Man (Garfield).
Nick Fury and Maria Hill are both Skrulls who are filling in for the real characters. Talos is the one who is posing as Fury.
Mysterio use Chitauri tech in his suit and to create the elemental monsters.
There is NO scene that sees Peter use Mysterio's tech against him by creating a Iron Man and Captain America.
The SNAP and time jump is addressed. The flight to Europe is one of the first since the return and one of the kids Peter went to school with is now an adult who is a model.
Vulture has a small role in the movie.
Chameleon does factor into the movie as an accomplice to Mysterio.
Aunt May and Happy are starting a relationship as do M.J. and Peter.
Post credits we do see the return of J. Jonah Jameson and it is J.K. Simmons back in the role. He is running a story about Spider-Man being responsible for the attacks abroad.