Virtual Reality is most likely an inevitable evolution in human-computer interaction—in the long term, anyway. But in the next 10 years, there’s a major risk of VR falling to the wayside as a novelty or an enthusiasts-only market. The closest analog I can think of is the flight-simulator market. There are enthusiasts out there who have amazing flight-simulator setups, but the list of supported games is relatively low, and the best hardware can be extremely expensive. Flight-simulators can be a whole lot of fun, but there’s never been full-fledged console support, and that has relegated flight-simulation to the PC gaming elite who have the money to buy not only top-end computers, but also top-end flight-simulation hardware.
We’re at a fork right now with VR where, depending which way things go, it could take off into the mainstream, or become an expensive enthusiast/niche market.