I was there in the 80s when it made the mall arcade circuit and again in the 90s when it made the college student union circuit. I was there in the 00s when 25,000 devices made the Silicon Valley circuit. I was there in the 10s when Oculus stirred things up again. I'm here in the 20s when Apple is trying. I'll be here in the 30s when the next round hits AND FAILS AGAIN.
People care about their faces. They're not going to strap a 1.5 pound dork-box to their face and head mussing their hair and makeup to do what they can already do on their phones or laptops. What they cannot do on their phones or laptops (or game consoles or tablets or rings or watches or whatever) they can do on a $500 Quest.
There's no market for a PC-priced device that straps to your face like ski goggles. It's an accessory. Price it at $100 or $200 or even $500, but you can't price it at $1000 or $4000 because it's a toy.