There are FPS games for VR. They're OK. VR gear may just be an optional accessory for hardcore FPS gamers. Virtual worlds? Well, you can connect into High Fidelity right now. Few people do, and it's boring in there anyway. Teleconferencing? Get real.
(And yes, fanboys, I've tried the things. I've used an HTC Vibe, a Microsoft HoloLens, and most of the earlier VR gear back to Jaron Lanier's original demo rig. The resolution has improved, and the head tracking is far better. But there's not much compelling to do in there.)