Mysterio was the threat to defeat in Marvel Cinematic Universe has brought various characters from Marvel Comics to the big screen for over ten years, and one that fans waited years to see as part of this universe was Spider-Man. This was finally possible after Sony and Marvel reached a deal, allowing the web-slinger to be part of the MCU and Sony’s Universe of Marvel Characters as well.
After making his debut in Quentin Beck/Mysterio (Jake Gyllenhaal), who ended up being the actual villain of the story. Beck had connections to Tony Stark, and he almost recreated his most famous work, but the designers (luckily) went in a different direction.
Mysterio presented himself as a hero from another part of the multiverse who had arrived in this version of Earth to save it from the Elementals, but it all turned out to be a very elaborate lie. Beck was actually a regular human being from the main timeline, but he was a genius. He worked for Stark Industries and helped develop the hologram technology Tony was showing in Civil War, but he was fired sometime after that. Beck then teamed up with other former Stark Industries employees and created the “superhero” Mysterio with the help of their Combat Drones and the aforementioned hologram technology. Now, Mysterio was very close to being even more similar to Iron Man, wearing armor similar to Stark’s, but he ended up being more inspired by Thor and Doctor Strange.
In the book the twist of his actual connection to Stark Industries a secret – and after everything he did, carrying armor like that of Iron Man (which actually looked more like the Hulkbuster) wouldn’t have been that functional nor would it have allowed Beck to sell his story about coming from a different world.
It’s interesting to see how the ideas for a character can change as more elements are added, and Mysterio benefited more from magical, god-like characters as are Doctor Strange and Thor than the genius who led him to a villainous path, to begin with. Mysterio wearing armor like Iron Man’s would have changed his role in Spider-Man: Far From Home completely and he wouldn’t have had the same impact, but it can be fun to imagine how Peter’s reaction would have been to see a new “hero” very similar to his recently deceased mentor.