It's possible to create much more "sophisticated" settings, although choices of avatars are still limited.

I agree, I can see how some companies would dismiss it on those grounds. I'm glad I've never been involved with companies like that, because it feels like a good balance between system demands, usability, effectiveness, and ease of use.

So far I've found attempts at full 3D "proper" environments cringe-making. Perhaps they'll improve, and my fear is that when someone gets the 3D environment glossy and slick, the suits will make people use that, even if the video and audio components are vile, simply because it "looks better".

It will be interesting to see how all this plays out over the next 5 years.

It'll be the virtual manifestation of the different aproach to offices:

Tech companies will be video-gamey and childish but fun and effective.

Old school companies will have pointless expensive VR that is boring and slows everything down (but kinda works, and is sold by Microsoft).

Exactly! Not "corporate" looking/feeling enough. A more formal kind of software would be more attractive for even serious events like Customer events or business meetings.