I think it'll remain a niche gaming device that enjoys a brief burst of popularity then decline to a low steady-state, sort of like the Wii.

I just don't see a lot of applications for it beyond occasional escapism. It's an interesting experience for sure but I don't think I even want all of my games to be VR. AR could be more useful but I have a feeling it's one of those things that look good in the movies but winds up being clunky to use in real life.