Cripes, yes it can! I found a Z website a while ago (can't remember where ) that documented how the owner took the old, stinky, worm-eaten cardboard thingie and used it as a template to fab a metal one.
This is what he did:
1) Removed the old carboard unit INTACT as much as possible.
2) Unfolded it and placed it flat on paper to make a good, accurate template with straight lines.
3) Used the template to trace a pattern on mild sheetmetal (it was a rather thin gauge metal if I remember correctly).
4) Folded the metal into shape and sprayed it with a wrinkle-finish paint or undercoating (it was textured).
5) Installed the glovebox and he was finished.
I think you could get away with step #2 if you wanted, but I think it would be helpful. This is a seemingly easy way to improve a bad box--I will certainly be doing the same if the glovebox I get is even the slightest bit ugly.
One reason the box was made with carboard was to keep the noise down in the glovebox. If you think items sliding around in a metal box will be too loud for you, you can always insulate the box or rubberize the inside, etc. Use your imagination, Shiin, the sky is the limit!
Davy