Step 1: According to MOT, a species does not exist if its Bond Order (B.O.) is zero.
Step 2: For Be$_2$ ($Z=4$, total electrons = 8):
Electronic configuration: $\sigma1s^2, \sigma^*1s^2, \sigma2s^2, \sigma^*2s^2$.
Step 3: $\text{B.O.} = \frac{1}{2}(N_b - N_a) = \frac{1}{2}(4 - 4) = 0$.
Step 4: Since the bond order is zero, Be$_2$ is unstable and does not exist under normal conditions.