It will never make gaming in current form obsolete. Not in 50 years. Just for the fact that you need to put something on your face..

Maybe some people will use a VR set instead of a Wii U for activity / family games but thats it.

What VR is doing is it makes some genre of games a lot more attractive: Sim-racing and flight-sims. The cockpit games in VR are really immersive. Combine it with some good hardware (rig, stick, wheel, etc) and you feel like you're really in the car or plane.