The other thing that needs to happen is that the skill, time and money required to create quality VR & AR content needs to be significantly reduced. This will come with time too.

We're doing our own small part to try and make that happen with our automated 3D scanning platform (http://realityzero.one)

From my experiences, I think there are several completely different axies of quality.

If it’s a cartoonish game, the imaging doesn’t need to be photo-realistic. If it’s ‘toon style or lit and textured by photography of real environments, the polygon count doesn’t need to be high.

What it does need, beyond the hardware, is immersive physics, and a gameplay-justified reason for why you can’t run through the furniture/wall/cable that you can no longer see. The game “I Expect You to Die” does that perfectly because you’re sitting down the whole time.

I don't think the skill,time,money required for VR is the man problem. It's not all that much harder to make a VR title vs non-VR title the coat is roughly the same. The problem is there is not a large enough VR market to justify the normal AAA size budgets.

That's a very good point. No content = no point.