And keep in mind this is coming from someone who backed the original Rift DK and is looking forward to getting the final Rift.
There really hasn't been much in VR-land that isn't just a cool tech demo. "Hey you can walk through this virtual world and it's like you're actually there!" - yep, sure is cool, but then what?
Both VR and AR are at the stage where we have the technology to make whiz-bang cool tech demos that are legitimately technically impressive, but are not real products the masses actually want. Worse, we know we don't have any real killer applications of this tech, so we're branding a lot of these tech demos as products, which only generates more disappointment in the field.
At a previous job we hacked around for a bit with a Google Glass - which isn't real AR, but certainly has similarities. We never could figure out anything real to do with it. Everyone had tons of ideas for cool tech demos, but the only things they accomplished were being cool and making you feel like you're in a sci-fi movie. We could never come up with anything that was truly a lot of value.
Right now VR and AR feel like very early motion pictures - I'm talking about the period between its invention and the development of cinema. We're still at the stage where it's a novelty trotted around like a circus act, and curious people pay a penny to view a 5-second loop of something dumb. Motion pictures obviously found a real place with real substance and lasting demand - VR and AR are struggling to do the same.