Does the "wow" factor wear off and leave too little benefit to overcome the downsides? Yes, for a lot of people that is the case. I've witnessed it in many of my friends who I convinced to get a VR headset, absolutely sure that it would become their main source of gaming, only to see them barely use it outside of a couple games for a couple hours a week. Some of that is due to the lack of good content, but some of it is inherent to the discomfort and difficulty "getting into" VR.

I'm an outlier I guess. Much of what VR offers syncs with my life now. I don't play competitive multiplayer games as much as I used to. I'm starting to prefer longer form and immersive content. Single player games are actually enjoyable and not completely boring, when in VR. Gaming sessions are naturally time boxed, due to issues of eye strain and general discomfort in VR. I don't want to game for hours on end anymore and VR provides a natural mechanism for that. 1-2 hours a day, and I'm good.

But those are fairly unique attributes and qualities to be looking for in a gaming platform and definitely do not represent what traditional gamers are attracted to. There remains an enormous swath of young men (and increasingly women) who want ultra competitive and comfortable gaming which provides boundless opportunity to sit and consume. VR likely struggles for another simple reason which is most people's tolerance to simply stand for more than an hour is quite small.

All of that said ... I still think this its early and there's enough benefit in VR that I have a very hard time seeing it going away completely. It might never catch on as a gaming platform, but for seated content like work, I could see it being a great solution if / when the technology improves.