Remote communication tools like video conferencing fail to deliver what academics call “social presence”, which is the feeling of being together in unmediated communication. VR and AR have the necessary capabilities to do so, and deliver social presence on par with face to face. With a fully immersive experience, you can feel like you are standing next to a person talking to them, regardless of their physical location. Body language, eye contact, etc all come through.
That is the core capability that will disrupt all industry, it is more a matter of when not if. The current hardware clearly is not hitting the mark for sudden mass adoption. The hardware will eventually, even if we have to wait until it becomes something like sunglasses or even contact lenses.
From first principles, having computers override what photons you see will have huge effects, but don’t focus so much on the shiny video game world aspects: it’s all about removing the need for physical co-location to communicate, work, and spend time together with full social presence. This is why Zuck bought Oculus, and why he has pivoted his company around the entire thing. It’s not because of “Ready Player One”, but because he feels that hardware/software will modulate most person to person communication soon, and he wants it to be his stack.