I dont really tend to enter these threads so outside of odd comment, i doubt you would find anything in my post history. But to your point.
The fact is, things flop for a reason. No technology works really well in its first few iterations. But if the demand is there people continue to work on it and improve it until it does work. There is no reason if worked on consistantly that VR couldnt be on a technological far beyond what the rift can do now. Look how fast things like smartphones have iterated since 2007, or even mobile phones in general since the mid 90's.
Need creates innovation. There is no mainstream "need" for VR and thats why it was dropped as a technology. Its only being picked up now, just like with 3D, because tech compaines need a new product catagory to commericalise, a new "gimmick" if you will. Its not borne of real world demand for this technology otherwise we wouldhave already passed this stage.