Well, on a note outside gaming we've started using VR in training and preparation of mental health staff and students in Norway. It's definitely more versatile than people think!
Indeed. There's a subset of gamers who are VR naysayers, who like to crow that because it has yet to gain massive adoption in games that it's a soon-to-disappear fad in a similar way that 3D TVs rose and fell in the past decade. But the applications of VR and AR extend far beyond games. This is a technology that will continue to have steady growth, and games are only one part of that - but an important part. I think the "killer app" that drives mass VR adoption won't be a video game, though - I think it will likely be pay-per-view live sporting events.
I got a VR headset several months ago, after having wanted one since the early 1990s. My personal feelings about it are mixed, but I'm still confident it will steadily drive toward a mass market technology. The experience of VR is an odd clash between a totally convincing immersion and a readily apparent artificiality (which can be ignored in some ways, and not in others). The most interesting project I worked on was a realistic re-creation of a place I used to live in, and it was a weird and fun feeling to be standing in this place again. It was obviously false, yet compellingly real at the same time. Having limited actual mobility is a downer - I wanted to just walk from room to room. That capability isn't far away with wireless headsets, yet having the real world physical space to do so will always be a challenge. (I can imagine places that rent empty warehouse space for VR events.)
But this also leads to another issue that most people have heard of, and it's a big stumbling block for the gamers who want VR FPS. The simple fact is that it feels extremely weird, physically, to have a convincing visual illusion of presence, and to have your game avatar move through it, without the corresponding physical feelings of motion - i.e., your character in the game runs across the city while you're seated and completely still. In many if not most people, it's headache and/or nausea-inducing. As a result, racing and flying games, where you see a cockpit around you and it makes sense to be moving yet stationary, are more comfortable experiences.
The other issue I don't like is that it's an inherently isolating experience. It's just simply antisocial to strap on a headseat and headphones, so it doesn't work well for a member of a family. But personally I'm on guard against all of the isolating aspects of technology, and I find even the way people retreat into their smartphones in public to be off-putting, so I don't expect everyone to share this opinion.