I hope so. In my opinion, the graphics have pretty much hit a wall. It will get better over time again, no doubt. But I think VR can enhance the experience in much different ways.
Considering gaming is such an immersion-based medium, it's hard not to imagine VR being the end game. Otherwise what are we building towards? If all the future of gaming just boils down to is higher resolution screens and more powerful hardware to pump out prettier graphics to those displays, that's honestly pretty disappointing and not terribly exciting.
There needs to be a paradigm shift at some point, from the player sitting crouched behind a TV/monitor with controller/mouse+keyboard in hand (i.e. what video games have essentially been since their inception), to actually being able to feel like one is truly "inside" a game. That is, after all, immersion in it's purest form.
What remains to be seen is whether this current boom of VR tech investment is what ultimately gets us to that point, or whether we'll have to go through another lull of waning VR interest while waiting for the technology to improve further.
Of course the graphics are getting sharper, the headset tech is improving, but it seems we also still have ways to go on control side as well. VR eventually needs to get to the point where we no longer need a physical controller (at least not one that constantly needs to be in the player's hands), but controlling a game with just one's mind still feels purely the talk of science fiction. But I'd like to hope we'll get to that point soon.
A lot of the comments in this thread sound like people want VR to become the next evolution of gaming as we know it because they are too scared to think of what the future of gaming would be like on its current trajectory (i.e., same types of games at higher resolutions on flat screen TVs with more processing power from increasingly powerful consoles).
*IF* that is the case, that shouldn't be a reason for talking yourselves into believing that the majority of the gaming market will ultimately think just like you and make VR the next evolution of gaming.
It certainly sounds as though the latest VR tech is creating a new kind of experience than what we've seen in the past from this area. But from all the various threads created on this topic in the last few months, let's not lose track of reality here.
(A) VR is currently a niche market for tech enthusiasts with more disposable income than the average consumer. Even if we don't know the exact figures at this time, there will be very real costs associated with purchasing these devices. For this to become mainstream from a cost perspective, the price barrier-to-entry has to be lower and the perceived return-on-investment has to be higher than that of other gaming mediums such as home consoles, handhelds, PC's, and mobile devices.
(B) Game developers have to be on board with this too. If we define "evolution" as VR games eventually replacing traditional 2D experiences on flat screens, then the idea that VR will be the "future" assumes that game developers would stop making traditional games for consoles -- a proven revenue stream -- and instead hedge their bets on VR -- an unproven revenue stream. From a business perspective, this is suicide, especially due to the sheer volume of money that goes into game development.
Look at how hesitant studios were to stop making games for both this generation and last generation. Here we are in 2015 and games are still being released for the previous generation of consoles. You think that won't happen again here but with even more hesitancy?
Best case scenario is, as with mobile, motion controls, and other new and unfamiliar game experiences, companies will continue to spend the majority of their money on developing traditional experiences while testing the water of VR until and if they can determine that they can make more money developing games for VR than traditional experiences.
If it turns out that VR doesn't bring in a comparable profit to traditional game development, they will continue to focus the majority of their talent and time on the console market and this will be the single greatest reason for how VR remains niche because it will ensure that consoles are where the majority of games are produced.
(C) As many have mentioned, VR as we know it today with a weighty helmet that cuts you off from the world (to some extent, not fully), that concept has a fundamental issue: social. If VR is going to become more than niche, it has to start by becoming less obtrusive. I play games with my wife and with friends in the same room (not always on the same games and not always with everyone playing a game). VR as we know it today, interferes with my most basic requirement in those situations which is to easily and comfortably talk with people while I'm gaming or if they are gaming and I am not and people are constantly moving around the room. As a consumer, I shouldn't have to limit how I want to be comfortable in my home when it comes to gaming. Even back in the day with wired controllers, that to me wasn't as big a deal as one or multiple people wearing bulky helmets with the sound turned up. If VR designers can address this, that would help alleviate some concerns.
With all that said, what's wrong with VR being niche? Even after these devices come to market and we know more about pricing and the quality of games that are developed for them, if it stays as niche for tech enthusiasts and 2D experiences on consoles continue to be the primary market for gamers, again, what's wrong with that?