A guy I went to church with back in about '96 was working on his PhD in computer science, focus on VR. What he elaborated on at that time was that the hardware needed to accomplish the simplest demo was nearly room sized. Lots of cables to the helmet and gloves as well.
Any 'new' tech is usually developed as a toy at first. There are two basic realms of thought here. One, the engineers are basically starting from their first love, playing with cool mechanical things and making them cooler. With training (school) they become better at the techno side of their tinkering, and what they initially develop is simple, childlike playful toys, the "look what I did" stage of development). Two, any large corporation or investor is thinking of the future, not the present. That's how investing works. If a new product looks like a winner, the long term saturation into the market must begin with children who are both more accepting of discovering the world and new toys (and easily introducing their friends and kids to it as well), and will likely have their parents purchase them a new toy as opposed to older folks that tend to be more comfortable with the status quo. Watch any commercial and unless the folks presenting are selling Depends adult diapers or denture bond you'll see younger folks as the target audience.
VR is still in it's infant stages. Upcoming engineers are taking it to the next level toy repeatedly as new hardware and code is available to expand their vision of the next experience. Never ending. VR suits are already in the works that blow way past headsets. The eventual eyeglass-like VR 'goggles' are already in the lab, and they are predominantly envisioned as business or casual use toys. The real big deal hasn't yet been given the funding to go retail or even approach the masses. Think of a gap in development where the jump will be from big goggles to enjoying a fully immersive tour of Machu Picchu (virtually live including smells, tastes, but no lost taxi drivers unless you insist) without leaving your residence. The investors know that this is moving very fast and are having to rearrange their monies more often than they like. But such is the fast pace we live in.