Pretty sure people will agree that the Vive (which includes touch controllers and room scale tracking) is "Real VR" -- if the Vive fails to deliver amazing experiences, then yes 2016 VR is a dud.
The Oculus CV1 by not including hand controllers, and secondarily by having a limited tracking range, while amazing visually, is a very stunted experience when it comes to really being able to deliver good made for VR content. The Oculus Touch controllers are amazing, and can't arrive fast enough.
DK1? "Oh, that's not REAL VR, real VR is DK2."
DK2? "Oh, that's not REAL VR, real VR is Crescent Bay."
Crescent Bay? "Oh, that's not REAL VR, real VR is the Rift consumer release."
Now we actually have the consumer release. And what's the message? "Oh, that's not REAL VR, real VR includes controls like Oculus Touch." And so the can gets kicked down the road another few months.
The continual response to underwhelmed users with "oh, you just wait till the next version!" made the whole thing start to feel less like a revolution-in-waiting and more like a faith-based enterprise. True Believers can help a company through the hard times, but they do not a mass market make.