The world's smartest and dare I say, wisest (for the tech space) people attacked this problem in the 90s: Jaron Lanier, Randy Pausch, etc.
No one was able to come up with a mass-appeal killer app back then, and no has managed to do that this time around, either. No, "Beat Saber" is not it.
I imagine we'll see Apple throw in the towel first (like how they got out of the self-driving car space), and then Meta will be left holding the bag.
I want to clarify that the tech has improved, plus lots of us geeks will continue to buy and enjoy such devices, but it is not a Visicalc, nor an iPhone. Thus, the Gartner hype cycle hump is gonna tank very soon, and big players hoping to sell millions of units every month will have to exit this space.