More likely than they will, so long as the device remains a poorly functioning novelty.

IMHO, we haven't reached the point where VR technology can be commoditized in this way. Even the high end rigs have a long way to go.

> How likey is it that people will develop content if the possible install base is only people with high-end headsets?

This isn't how tech goes mainstream. Facebook is trying to eat its cake before its ready. There's a lot of influencers in tech who, while bullish on VR's future, basically write off current VR. In its current state, isn't worth it for them, and they're the ones who can afford to have real VR setups and are passionate about tech in general. They're not going to recommend it to their followers either, since they themselves aren't impressed. Current content is limited by the capabilities of the VR hardware, not the other way around.