I've been messing with VR stuff for the past year or so and I still think that the "killer app" in 5-10 years won't be fancier video games but more like immersive "movies" or VR telepresence. We're at that stage of the hype curve where expectations are high as gen-one products come out but while these will surely be underwhelming to many early users, I think that once depth cameras and light field cameras are developed and improved (along with the ergonomics of head-mounted displays and the speed of processors) we'll start to see more in the way of non-game applications.
Just from personal experience, playing video games in VR is cool and all but when people can watch a movie from the perspective of someone inside the scene or meet up with people in a live-scanned remote environment, I think they'll be hooked.