The graphics wars breathing back into life would certainly be interesting, I think the widespread adoption of 4k/UHD monitors is going to wake it back up before VR does though.
I'm not sure true VR is completely necessary, particularly in the face of head tracking mated to a traditional monitor(s). I've been using a triple monitor (3x1080p) setup with a head tracking camera for flight sims for a while and I can't see what Occulus Rift can really offer me that that system doesn't. I can look around at will, have a massive (but admittedly not seamless) field of view and it doesn't suffer the nausea inducing problems of headset VR. I can also see my input devices if I wish, which is a problem with OR.
It's something that I've used on and off since Battlefield 2 came out and it's always struck me as odd that it's never become mainstream, especially for racing and flying games. In BF2 it felt like cheating to be looking one way and flying the other, or to be able to look in multiple directions without moving the turret/character model.
With webcams built into just about everything and systems like Kinect existing it should be a widespread option by now, if I could get it set up with a janky webacm and free software nine years ago major devs have no excuse.