The concept you're referring to is known as the "Many-Worlds Interpretation" (MWI) in quantum mechanics. According to MWI, the universe can be seen as a superposition of multiple quantum states that never collapse, but rather continue to evolve independently, creating a branching structure of parallel universes.
In the traditional Copenhagen interpretation of quantum mechanics, wave collapse occurs when a measurement is made, and the system "chooses" one particular outcome from the range of possibilities described by the wave function. However, MWI suggests that wave collapse is not a fundamental process but rather a result of the interaction between the quantum system and the measurement apparatus. In this view, all possible outcomes of a measurement actually occur, but each outcome happens in a different branch of the multiverse.
It's important to note that the Many-Worlds Interpretation is just one of several interpretations of quantum mechanics, and it is still a topic of debate among physicists. While MWI offers an intriguing perspective on the nature of reality, it currently remains a theoretical framework without definitive experimental evidence to support or refute it.
Ultimately, the question of whether the universe can exist solely as quantum waves without wave collapse depends on which interpretation of quantum mechanics one subscribes to. While MWI provides a possible framework for such a scenario, it's not the only interpretation available, and further research and experimentation are needed to fully understand the true nature of quantum reality.