There's a simple process you should always do when a big new innovation in the video game industry comes out and you're wondering how big of a change it'll make: look at what happened the last time someone tried it, and see what's changed.
-The Wii boasted the brand-new, never-before-tried mechanic of motion control; what was different from Pantomation's attempt thirty years earlier? Obviously, the technology was much more refined, the userbase had increased hundreds of times over, and the potential userbase had an even larger increase. Couple that with the relative price decreases (far more people could afford a Wii than a PDP, after all), and you've got a real shot at commercial success- but the problem Pantomation faced was that it was, ultimately, just a novelty; everything people thought of to do with it was far more quickly, easily, and above all precisely handled with a keyboard. The Wii avoided this by sticking to simpler fare; almost nothing the console had made for it was meaty or heavy, and those few things that were were better handled by using the controller as a controller.
Of course, Nintendo can get away with that sort of thing; light, fluffy, and fun is their bread and butter; it has been for decades. Microsoft and Sony aren't in the same position. So when they released the Move and the Kinect just a few years later, before many refinements had come along, what did they change? Not a lot. The Kinect forewent a direct physical controller altogether, in the process making the assumption that people wouldn't mind constantly being watched. Sony changed even less. They relied on novelty and imitation, assuming that blind brand loyalty would cause people to not question what this system added. It failed, and they moved on.
So what does this say for VR? Well, now we have the Rift and the Vive. So let's look at what happened the last time someone tried this brand-new, never-before-tried mechanic, and see what's changed.
-The Virtual Boy was released in 1995, and flopped so hard that even Sega was laughing. I don't believe that it was actually an attempt by Nintendo to combine motion sickness, headaches and eye strain into a single unit and cast it off into the market wilderness like a sacrificial goat, but that's pretty much what happened. Apart from what must've been an appalling lack of user testing, what went wrong? Well, let's look at what happened the last time someone had tried this brand-new, never-before-been-tried-because-each-decade-apparently-exists-as-a-separate-reality mechanic.
-The Tomytronic 3D was released in 1983, and actually beat out the Virtual Boy in display power, in that it was able to display more than one color. But the games were overly simplistic, and no matter how you gussy it up, novelty lacks the staying power that makes a game, or a game system, or a subordinate or auxillary technology thereto, succeed in anything beyond the short term.
Well, it's no longer 1983 or 1995. So what's changed for this bran- nuts to that, let's just call it this means of playing games? Well, they're calling it "Virtual Reality" now; the industry has certainly advanced enormously in shamelessness. But the lesson we need to take is that novelty alone won't buy you longevity. Does these units change enough that they'll have staying power? Never having used one, I don't know. But you can stick around with a limited but loyal market until you eventually explode (we'd never have had Asheron's Call or WOW if the MU*s of the 70's had gone away), which is what these fancy ViewMasters are likely to get. Whether they can stick around- and thus whether they'll ultimately amount to more than a historical footnote or a semi-sarcastic "brand-new, never-before-tried mechanic" in a forum post I'll be writing in 2031- depends chiefly on the games and other programs released for them.
And it is, ultimately, what is released for them, not what is adapted to them. Valve has always been happy to play around with new tech, and they're certainly no small power in the industry. But when was the last time you heard about the Novint Falcon?