I will say this is as close as I have witnessed to VR being "good"
VR is not new at all... Being going on since the 80's as far as I know and maybe even government experiments before then (for military training stuff)
I remember the first time I tried it as a serious thing, was this basically tech demo in the mall. You shot at bugs with your hands or something I can't really remember. The only tech about it that impressed me at the time was the positional audio, it really was cool. When I asked the guy how much the computer cost to run it, he said not including the harness and thing you stood on (was a weird thing you climbed up into to put the helmet on....) just the PC was like 15K USD at that time. The graphics where like really sharp PS1 level with no fog... There was a lot of lag and it really wasn't all that great. I think I paid like 5 bucks for 2 minutes?
Fast forward to now, you still need a top of the line PC and they have made advances to get rid of the lag but there still isn't a lot of great content for it... I can count on 1 hand the number of VR Apps that so far look like "Yeah that would be awesome!!! For about 15 minutes..." One of the huge drawbacks in my opinion is wearing anything on your head for extended periods of time sucks. I wear over the head headphones for great sound, but I don't sit at my PC with them on, they get annoying after at most an hour and that's with like 5-6 breaks to let my ears get some air.
This is going to sound like tech hell but this is when VR will make it big time, computers are like 20 times faster than they are now, meaning even the low end PC's grandma owns has 10 times the power of a top of the line PC now. The glasses and tech have advanced to the point they are like 8K 120Hz per eye and have the same weight as a pair of sunglasses and will look as cool... (You gotta look cool while your doing it, or the nerd factor will kick in and no one will want it.) Then there needs to be a shit ton of content and current content should be enhanced to use on the new hardware (Like HD for old consoles now)
Basically what we have now will flop and no one will attempt it again for another 5-10 years with it gaining a bit of popularity each time but the real take off will need quantum chips and crap we just don't have yet.
Edit: I swear the unit looked like this one but was white? Maybe just this is the UK version and the US version was different style? Or trying to remember over 20 years back... lol either way here is what I think I was in...
http://images.eurogamer.net/2014/livetext/1663335/vr.jpg