The world of VR is divided into people of hope and despair.
>> whole dizziness factor, which people are pretty much unanimous about.
This problem is resolved by high frame rate and giving the players a point of reference. Most game devs have stopped making people fly-around while not in a vehicle. Roomscape also REALLY helps that, as you keep your perspective.
>> The games that are being made aren't even worth the money for all the gadgets required.
You can't quite think of VR as a gaming platform, as that sort of limits what it is used for. I like to think of it as an experience / interaction medium.
For example... Google Tilt Brush.
It isn't really a game, but an experimental art-program that works.
In the future, I see VR being adapted to overcome limitations of the monitors. Think of 3D modeling programs in VR? Autocad, etc.
Think of having a virtualized desktop with as many screens as you need! think of video editing, where all your tools are perfectly laid out. There are so many possibilities!
>> VR is pretty much doomed.
Sony VR? Maybe this iteration, but remember, VR has been on the consumer market for 6 months now with the HTC Vive being released in April. Also think of this.. Steam, Facebook, Sony, Microsoft, Nintendo(?) and others are all pushing forward with VR. These are pretty big companies with REALLY smart people. It is really hard to say it is doomed, because you are betting against some big tech giants. You don't want to be the guy who looks at the first Windows Phone, and goes "Nobody will ever want a PC and a phone in one! It will never take off!" Sure the window phone flopped, but people still paid $800 for the first Iphone.
(and for the record.. I thought people were crazy when they purchased the first Iphone.)
As for Playstation.. I think the release of their VR and in the state it is in is a move against Microsoft. That gives them a little edge against Xbox, and just in time for the holiday season. Ya gotta pick a side in the console wars.