I'm no mathematician or physiscist, but this is how i see it.
It becomes very long-winded when trying to describe how a lot of things all relate to eachother all at once, using their proper long names, so people have decided to use other, shorter symbols to replace these long words. Equations written from these variables describing their relationships then allow us to predict what would happen if somethings else happened and we we don't know some of the variables.
When they try to describe the way the physical world works - because most of it seems quite predictable (and we'd like to be able to make exact calculations so that we can predict costs of building things and whether what we're spending so much money to build will actually stay up and not collapse etc) - people have decided to call it "physics".
So naturally the quest is to describe our physical world. We live in this world, it exists already. (We will not go into a philosophical debate of whether or not the word in fact exists, neither will we go into a neuroscience debate and talk about how the world is perceived differently by each person and how that arises.) I will talk from the assumption that the physical world that we can see and touch exists. In which case the "Everything" is already there. It's not really that outrageous an idea that everything is related in some way or another. It's the physicist's job to figure out what the "things" in "everything" are, and how they all relate, which way and to whom.
A "theory" is just someone's idea of an explanation for something. it needs to be tested to see if it actually describes nature correctly. if it doesn't, then the theory is wrong.
So, is there a theory of everything? No. No one has come up with it yet.
But does it exist?
Of course it does.
Everything exists. if you're curious enough, you may be able to figure out How it all exists together.
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