There seems to be a lot of confusion about VR. So I am going to try and clarify a few things.
1. '3D gaming or 3D TV didnt take off why would this?'
3D gaming does allow you to literally look behind you and still be in game in the expected place in that game. 3D gaming doesn't allow you to move your body over to avoid an obstacle, VR does. 3D gaming is limited to your screen, VR is fully immersive.
2. 'They already tried in back in the 90s' 1995 to be exact. In 1995 Blockbuster had VHS tapes then and they were a bit recultant to rent out DVDs until the market proved better. Blockbuster, VHS tapes and DVDs were all smashing hits that are gone or soon to be gone. Comparing VR of today to Virtual Boy is silly.
3. 'Its a Gimmick'. It might be but it has millions of dollars in interest from the leading venture capitalist firm in silicon valley. A few high profile people in the gaming industry quit good jobs to come work for something that is highly risky. And finally...games are already being developed.
4. 'Sony will make one'. I think it would be great for the industry if they did, but given that Oculus Rift was on the front cover of so many high profile magazines, that if Sony had something to say of serious substance they would have by now.
5. 'It will only be good if its for the consoles'. 1. because your eyes are so close to the screen and because of motion detection the screen MUST be 1080p at 60fps min in order to be viable long term and to avoid motion sickness. Preferable higher res than 1080p. 2. A full setup could involve Oculus, STEM system and maybe even an omni. That is a lot of USB ports guys.
I hope this clears up some things