I've seen any number of "2016 will be the year of VR!!!!11!!1!!" articles/posts of late and been wondering the same thing as the OP.
Could VR be the next big thing? Maybe, but I kinda doubt it and I'm more than old enough to remember the last few times VR was going to be the next big thing, even a few times I was tempted to buy in.
But will it be the next big thing? I seriously doubt it. All other issues -- and they are many -- aside, the isolation is a biggie.
My gaming partner is also my best friend's husband. We spend most evenings at our respective places with headsets on chatting as we play this or that co-op or MMO game. Just the headsets are isolating enough that it drives my friend a bit nuts and I can just imagine her reaction if he put a visually isolating VR rig on his head as well. It'd never fly, never in a million years, and frankly my friend's reaction is neither completely unreasonable nor in the least bit unusual.
Even for myself, I'm a widow and I live alone, but I can't imagine wearing something that cut off both my vision and most of my hearing from the real world for hours at a time. I have way too many other considerations to allow gaming to be that close to 100% of my life for hours at a time.
Beyond a few who desperately want to need to lose themselves further and further into a game, I just don't see it going much of anywhere, no matter how 'neat' or 'immersive (two traits that tend to fade quickly over time) or even if both the tech and price were ready for prime time (and neither will be), because of the isolation factor.
So why so much media noise about VR? Aside from marketing and a very vocal and intense, if probably minute, fanbase, mostly I think it comes down to there not being much else. Motion controls have mostly gone no where so fast they should get a speeding ticket. 3D displays never really did go anywhere, in part for some of the same reasons VR won't. What else is there? Faster CPU/GPU/APUs? Denser transistor counts, whoo-hoo! For the most part only a fraction of the compute power available to the average person is really being utilized anymore, replacement cycles are way, way, way longer than the used to be, and for the most part upgrades have only a minor real-world impact. Kinda hard to get excited about that. What else is there? 4K and higher. Yeah, nice, more pixels and all that, wake me when the cost is decent and there are GPUs that can drive the things decently -- preferably GPUs that don't dim the lights for three blocks, warm my house by ten degrees in Summer, or need a mortgage to purchase.
There just isn't anything else out there on the tech horizon that has caught the imagination, and thus wallets, of consumers. I think VR is just the latest thing marketers are throwing at the wall in hopes that it will stick.