It just seems doomed like Google Glass. Glass might have industrial, military, or occupational uses, but its current design doesn't work for the average person. When you wear Glass, you and everyone around you know that you are wearing it. It needs to look like a normal pair of shades...like in Mission Impossible.
Similarly, VR tech might be down the same path. Let's say that they can get VR tech to run smoothly with some good apps. It's still bulky. Let's say they are able to get it slimmed down to a pair of shades. It is still only a visual stimulation. We already have something for visual simulation; it's called television.
Maybe this is just the start. Maybe there will be some kind of physical interaction advancement, like Virtuosity (their design doesn't seem comfortable though). Or maybe the Holodeck. Or maybe we'll create the Matrix. Or maybe we'll create Inception.