There were plans for a Bob Ross Wii game that sadly never came to fruition. Maybe it can be revisited in AR/VR.
I did that once on a boring Saturday. Used Procreate and a Pencil to follow along with a couple of shows. Had to pause it more than once to find & download a matching brush in Procreate. Was quite fun. I think a dedicated app would sell extremely well.
Like an expensive canvas is what, $20? And paint can be had for like $5-10 a tube, and unless you just slather the shit on your paintings, you can go quite a long ways on a tube.
Like I play Call of Duty because I don't actually want to experience a warzone. Who wouldn't want to actually paint?
Yeah, you can get by with very simple tools and materials, but a digital version doesn't limit you to only the simple things.
No cleanup.
No need for figuring out what to do with the canvases.
Any color of paint you want, possibly including ones like "polka dots" or "tiled faces of Nic Cage" or "color-cycling rainbow".
And your brush strokes can be 3d contours of virtual paint hanging in the air instead of marks on a flat canvas.
I think you're oversimplifying how much of a hassle painting can be. Sure, one canvas and one tube of paint cost you $25, but you also need to include brushes (duh), an empty jar for water, a palette or an old plate, an easel or a table where paint spills are not a problem, plus the time to set it all up, clean your brushes afterwards, and tear it down (unless you have an empty garage, which people in apartments typically don't). And then there are the lessons which, if you're a beginner, mean several one-hour chunks (and several canvases) until you feel even mildly comfortable on your own.
I think VR painting is to painting what Guitar Hero is to playing a guitar - you may not be a "real" painter afterwards, but as long as it's fun...