I think games where the player is static is a good place to start. In addition to simulators, I could see god games, rail shooters and puzzle games all working well in VR. Even a game with restrained movement like a slow-paced mech shooter or old-school first person RPG (think Ultima Underworld) could turn out great. Making the player aware of the dissonance between the virtual and physical worlds is the immersion-killing poison that VR game developers must avoid.
Finally, I'd like to make note of the many non-gaming applications of VR that could turn it into a compelling platform. The platform has tons of potential in fields such as art [1], manufacturing [2], education [3][4], health care [5] and the list goes on. VR can be used to enhance these applications but not if it's treated like a cheap gimmick.
If VR flounders it will be because developers failed to tap into the vast market of VR software waiting to be unlocked. The key is imagination.
[2] http://www.forbes.com/sites/leoking/2014/05/03/ford-where-vi...
[3] http://www.roadtovr.com/it-time-we-started-talking-specifics...
[4] http://techcrunch.com/2015/11/17/museum-collections-enter-vr...