Personally there is a good side to it. You know, making the world seem like a video game was a really ingenious idea. But there is one problem, two words; "Motion sickness". Even though gaming has entered a new era, we are already another step closer into thinking that all these new ideas will be wasted. It isn't how realistic gaming could get. It's how realistic we want them to get. People are arguing that if gaming gets too realistic, people will no longer want to play video games due to them being more exhausting than fun. But virtual reality is a different thing. Imagine playing a first person game like Minecraft and then you accidentally fall out of the world. In your mind you'll think that you are falling in real life, which will lead to nausea. So yes, VR is a fail but at least it wasn't an EPIC fail.
I think most people prefer to sit to play video games look at what happen to the Kinect, PS move and the wii motion control, they were all a big hit when they came out and most people went back to regular controller after a while. I think it's better being able to sit and drink beer while playing