Optical PCIe would be hugely handicapped by lack of a standard optical PCB construction method. You'd have to print waveguides onto the PCB. And then it stops working if you get dust in the socket.
Multimedia is the driving force behind increased data usage, and I think we'll continue to need more throughput until we no longer get any benefits from higher resolutions (aka when we have substantially more pixels than rods and cones in our eyes). At the moment a phone with a 4K display saturates your eyes at any distance greater than 2 feet from your face. I think a 16x PCIe 4.0 link will likely provide more than enough bandwidth to generate fully immersive VR experiences, so the question then becomes... why and when will we need optical PCIe 5.0 to quadruple the datarate of PCIe 4.0...
There are advantages of optics including that light moves faster than electrons (important for HPC where the figure of merit is latency in us between nodes, etc) and typically has higher fidelity. But the size of these structures is orders of magnitude larger than conventional semiconductors.