I've heard people saying "meta-lenses" will finally make head mounted displays possible in 5 years.
I'm deeply cynical. At this point "VR" is indelibly stained with ripoffs.
"Immersive simulation" will still be a goal, and there will be plenty of utopian promises and large valuations that come to nothing in the future; I expect they'll find different names for them.
Eventually, long after anyone cares about the quirky package of tricks we currently label "VR", it will become possible, as a byproduct of other technologies that have real applications.
Sort of like the AT&T "Video call" visions they touted for years; that always seemed to be hunting for a market. We can do that trivially now, but no one really wants it enough for it to be a common thing.