What is holding VR back "as a platform" in my opinion is one killer game, some MMO virtual world like World of Warcraft that fully optimized for VR seated gaming.

Resolution is still a bit too low to replace monitors, but the frame might be high enough now, but I suspect it takes at least 4k per eye, but it might be 8k minimum. The threshold to really replace screens would be huge. The eye tracking of the frame is also a huge leap forward, not only for performance but more for unique interfaces.

What is also missing is some kind of "VR armchair" with inbuild split keyboard and quick way to switch to a pointing device like mouse or VR controller. There is no good "desktop" or shell interface. You can't easily pull up some txt or browser window if you want to look up something for the game you're playing, you're kind of "trapped" which is a real issue imho. Also something like a multitouch floor mat before the VR armchair to slide your feet and "walk" to move around. And a shelf behind your backrest to pull the headset from and put it back easily without having to mess around much. There is a convenience hurdle to VR headsets.

What is missing is really content / apps and a few hardware advancements and sort of the furniture. AI does have the potential to upscale old movies and tv shows into some kind of 3D parallax format. Like a better quality than we've seen so far. Also of course realtime animated photorealistic AI porn that reacts to your voice with cyberdildonics.

The potential is there but requires investment, both for the corporations and the users. But such investments could partially be offset. Imagine your work from home, but instead of sitting before a screen you put on goggles and sit in a virtual office and people can just walk by to organize (or scoot by with the foot mat movement lol). With the right software environment you could fully combine both upsides of office and remote work. And you could do this in a small windowless "pod cubicle too" since you'll be wearing headset and won't use papers.