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I don't think that will be the case.

There are experiences that can be had with VR that can't be hadd any other way. And it can completely change the way certain kinda games are played. That means it will create its own genre of games and claim certain genres that currently belong to the controller. Simply put, VR will naturally shine for any game where you are in a cockpit of something.

Then in addition, there will be a lot of applications outside gaming that VR will revolutionize. Once things like VR sports broadcasts become a thing and VR porn becomes a mainstay, then followed by movies shot with VR support.... truth is actually using a TV will ultimately become antiquated for those things. But that's at least another 6-10yrs away. for now, VR will just be the best way to play racers and flight sims and games like Rigs (mech warrior, titanfall....etc)

Just like with 3D games, VR will need time to find what control systems work and don't work. And ultimately will create and/or claim its own genres.