Compared to what?
Kidding aside, it does seem like VR probably has value as a kind of exposure therapy..
Likewise, if you have a fear of spiders bad enough that it interferes with your quality of life, you likely want to be desensitized to spiders.
But a regular and 'by design' aspect of a game, presumably online?
Dunno if I, as an arachnophobe who plays plenty of games online-trust griefers not to ....well grief with that kind of power, heh.
A multi-player spider game sounds potentially terrifying.
[1] https://money.cnn.com/2016/10/16/technology/fearless-vr-spid...