Watching movies clearly only makes sense in a social context and is therefore predictably unsuitable for VR.

However the "interactive media" market is also way overhyped, maybe similar to 3D-TVs. When the initial excitement of the user for VR wears of it feels more like a gimmick rather than an immersive experience. I know plenty of gamers who have rarely used VR goggles stuffed away in some cupboard while going back to their plain old 1080p monitor. VR will stay a small niche even in the context of gaming.