Required physical space and overall utilization are commercially limiting factors, achieving the required level of "presence" (which is beyond immersion) is still a major technical hurdle.
After all, the human brain is preconditioned to detect if something is "off", VR needs to achieve a level of performance that doesn't trigger any of this senses.
AR on the other hand has none of the above limitations. It's comparatively easy to develop a good experience there, and much more simple to develop applications once a strong ecosystem is in place. AND it contributes heavily to the VR-evolution as well.
If XR will disrupt in this "round", expect VR to evolve slowly until AR has appeared and scaled. Without AR fueling it, VR won't be able to accelerate in evolution and affordability.
I played about 300 hours of VR, then moved somewhere that didn’t have the space, and I haven’t ever felt the desire to play VR since. Regular PC games are just as fun if not more so.