Yeah, that's it. It wasn't having your fascist, boot-licking CEO show up wearing the stupidest looking shades that made investors cringe and look for the door. Cause we all know Zuck looks cool and people want to emulate him, right? He's not a jackass in a curly mop.
Maybe next they should have Elon wear them. We can just go down the line having stupid-looking billionaires take turns modeling these things and suck the whole industry dry of any investor money by mid-year. Who should go third? Oh, I know! Sam Altman with his two popped collars. I can't wait. What a trio of clowns. And that's just who I thought of off the top of my head.
To me, the killer app of VR is the moment when your brain clicks over from 'I see this room in my headset' to 'I'm standing in a room', this is often called Presence.
There are a lot of things in the way of that: low resolution displays, low frame rate due to the large total resolution and poor/delayed tracking, lens type/orientation creating first and second order reflections etc. All of these are slowly improving and the solutions are becoming cheaper.
And you're right that the software needs to catch up, that's the chicken and egg problem. Nobody wants to develop games for VR because there is no customer base and nobody wants to spend a ton of money on VR when there are few games worth playing.
The other good thing about them is that if you're sitting in a chair then you're getting a lot of tactile feedback that matches your in-game perspective.
I am not a super-hardcore flight simmer but VTOL VR is probably the VR game that I have the most hours in. It's a one man project but he does a great job of creating in-sim controls for the aircraft. You don't (can't?) use anything but the VR controls, grab a flight stick, press a button, tap a screen, etc. It has enough depth to the planes and systems that it feels real-ish, without requiring a multi-week training course (DCS A-10C, smh).
Another title focusing on in-sim controls is Iron Rebellion. Same idea, you're sitting in a cockpit, a mech this time, and there are variety of in-sim controls and gauges in place of UI and hardware controls.
There are some enjoyable games, but you're right that the price:good game ratio isn't great, but the tech keeps getting better and the library of games is slowly growing. I think we'll eventually reach a tipping point where all it takes is one good VR-exclusive game to drive people to the platform.