Don't forget that players are typically prepared to handle variable bitrate encodings, so each frame is liable to have a different bitrate anyway.
As for metadata, that's an odd duck; even though the id3 tags from both tracks would be included in the new file, most players are only going to be looking for tags at the end of the file for display to the user, and simply skip over embedded tags in the middle of a file as known 'not-music' content. Some might play garbage or crash, but I doubt they'd be popular if they are that brittle.
And note that the mp3 headers don't encode any information about overall file size -- that's all calculated at runtime. (Perhaps through magic.)
Back when I was trying to learn German by listening to streaming radio stations, I frequently used dd
to split apart giant streams by guessing how far into the track I wanted to start and stop cuts... inelegant, but no re-encoding, and my player handled it fine.