It seems that with VR the technology isn't really there yet, especially at the price needed for mass adoption. It's not clear to me that any company is really ready to put in more money to move it forward right now. But at the speed things are moving, it wouldn't surprise me to see another push in 2-5 years.
AR is the more interesting space right now. On the consumer side, Pokemon, Ingress, and the new Harry Potter game are doing ok from what I can tell. I'm not sure when we'll really get to a wearable AR device that is popular (Google Glass obviously wasn't able to meet people's needs).
Microsoft is still investing in AR, but they're focusing on business use rather than the consumer space. I'm not sure it will really take off with the HoloLens 2, but another iteration that improves the field of view and if they can bring down the price (the newest version starts at $3500) they might be able to manage broader adoption. But even that is likely to be a couple of years away.