This is not out experience using VR chat for some of our meetings. We're a fully remote team building a VR product so we're in a somewhat unique position where all our employees have high end VR gear and we have a big need for effective remote collaboration and communication.
A big advantage of VR over voice or video conference calls is being able to see where everyone is looking. This makes for smoother flowing conversations as you're able to look at someone when you pause and want their input. It's a real advantage over video conferencing. This is true even with very primitive avatars that don't reflect any facial expressions. Being able to collaborate around virtual objects in the environment is also useful in some situations, although virtual whiteboards are still quite primitive in most apps. Social VR is a very different experience from an MMO played in a 2D window.
The hardware cost will continue to come down but it's already not a major barrier for many enterprise use cases. Is certainly not a top concern for our customers.