A lot of people invested heavily in VR - like from investing in the actual companies, hardware R&D, developing games, to paying influencers .. right on down to consumers who bought into it. To dismiss all of VR as a fad that will never become anything is inflammatory and likely to offend a lot of folks who dipped their toes (or tossed their entire wallets) into the pool. If VR -- we'll call it modern era VR -- launched with the wireless models that are out now, I think it would have quickly gained that critical mass market penetration required for everyone's success. But so many people went all in a couple of years before the tech and price barrier was consumer friendly. Now you have a multitude of early adopters with outdated hardware who are probably not eager to buy more VR hardware, parents who certainly aren't going to buy more, and developers sitting in a holding pattern again to see what Sony does with VR next gen, and what attach rates will be etc.
So I get the sentiment that VR still hasn't found the resounding success and killer titles it needs to succeed as a gaming platform. Hell, companies call their VR projects "experiences" instead of games more often than not. I think it fair to say the future of VR as a gaming platform for the masses remains in peril at this point. I just wish the wireless stuff was ready 3 years ago. I think they'd have made a much bigger splash. As a 43 year old gamer, however, with decades of playing on console and PC, I still don't feel the pull of VR. But maybe the kids coming up will get more interested. Fortnight-VR, I think, it what it's ultimately gonna take.