I would say that yes, it is. Sure, you can fire up MSFS 2020 and look around with the mouse and go, 'yep, looks like a plane'. But switch to VR and it's "omg, that's a plane! Also, I had no idea the cockpit was so tiny!" You actually get an idea of the scale of the plane you are flying in. You get better distance perception too, as you would expect.
Once the initial shock passes, you are done looking around and you decide to actually fly, you'll notice a major difference: you will spend more time looking out of the cockpit. Just like you would expect in a real aircraft flying under VFR. Because it's easy, and natural to do. Generally people spend too much time looking at instruments when flight simming. Because as gorgeous as the MSFS scenery is, it's still 2D. That changes a lot when you can look out. And no, TrackIR is not a good substitute. It does help, but it all feels 'fake'.
The thing is, specially with the current VR generation, that looking at cockpit instruments is actually a hassle (even more so for glass cockpits). The resolution is good enough for scenery but not as good if you want to read fine print. Of course you can move your head and 'look closer' at them just like if you had bad eyesight. It's totally doable, but can be tiring.
Bottom line. I would say it's very worth it specially if you fly GA aircraft (big tubes doing standard procedures at 30000ft are ok too, but stereoscopic volumetric clouds can only hold one's interest for so long). If we had higher resolution, I would say "absolutely, get one yesterday". As it is, there's a good chance you'll like it, and you can do it with even a first generation Rift, or a Quest.
As for GPUs. I could run on a RX580 by turning down a bunch of settings. You need to keep the framerate up. I would not recommend going that low end - even more now that GPU prices are coming down – as I would still get nasty frame skips from time to time. But hey, it worked. I got a AMD 5700XT and it runs perfectly fine now.
The official recommended VR specs are a RTX 2080Ti or better. Minimum is listed as GTX1080.