it does exist but not as a place you go after you die for all eternity, but rather as an stadium of consciousness where your auto reference is sick and you have no hope, meaning and purpose
This is previous pope reply to that question on an interview:
be sure to turn on English captions!
in other traditions, the ruling believe is that of reincarnating in an infinite loop until you perfect that rough diamond, awaken that spark of your soul, the little part of god in you
So if you allow yourself a little comparative religion you could argue reincarnating in that sick auto referencing stadium of the mind is akin to going to heck