It's wrong to consider VR as a gaming peripheral - the appeal is much wider.
Music visualization applications are astonishing and photogrammatry is compelling. I've often just sat in a virtual location enjoying the ambience. Music making and 3D modelling (both for leisure and for professional use), social VR, fitness, narrative/story-based, virtual tourism and educational applications - these are all genres that work much, much better in VR than on a flat monitor.
> given the limited games and limited quality of them
This is quite simply not true unless you have very specific tastes or unlimited free time. There is more good content available now than I would ever have time to play.
There is a lack of big-budget, AAA, 60+ hour gameplay titles mainly due to the economics of game production (creating a typical AAA title solely for VR would require it to sell for something like $1000 a unit to coup costs given the current user base) but there are several VR ports in the works including Doom, Skyrim and Fallout 4 from Bethesda by the end of the year.
But I can list a dozen incredibly good gaming experiences in VR off the top of my head. I rarely touch non-VR games now.
Yes - VR has room for improvement (FOV, lens quality and weight would be top of my list - the resolution is far from being a major problem and most others agree) and the cost needs to drop further for it to be mainstream.
But the tech is already compelling in a way that no other technology in my lifetime has shown itself to be. Count me as a true believer. I'd buy another rig immediately if I had to choose again.