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Blu-ray and streaming did not flop; they are the industry standard. As for the 3D bit; the main reason why 3D has failed several times is that it has yet to be presented as immersive and complete, the 3D we've been getting has been terrible at best.

That said, I'm not terribly excited about current VR projects, it will be many years until we see a truly worthwhile effort on this front.