VR doesn't really enable new experiences that people actually want in significant amounts. Tilt Brush has a couple dozen daily users[1] (remarkably consistent; demo stations, I wonder?). Beat Saber seems to be the one VR exclusive game that truly has been a lasting success, holding steady around 1000 to 2000 daily users on Steam and surely more on PlayStation. Maybe that's a clue that there's something there (I think it indicates more the popularity of rhythm games a la Guitar Hero, and a paucity of other VR titles worth playing). But I think if there really was something compelling about VR, we would have seen more than one successful game in the five years since VR has been on the market. Big names like Valve and Sony would have increased their VR resources, not mostly abandoned it. There just isn't good evidence that those couple things VR is genuinely capable of are something people actually want, and it's not like the big names didn't make an effort.
My point about the VR software market being dead is that there hasn't been a VR application worth talking about since 2020, with Half-Life Alyx. Everything they're putting out now[2] just looks like more of the bland flat-screen-with-Wii-controls experiences we've been seeing for five years. The gaming sites I follow don't really even bother doing VR reviews anymore. There just isn't significant work going on in this ecosystem, outside of Facebook.
[1] https://steamcharts.com/app/327140#All
[2] https://arstechnica.com/gaming/2022/04/ghostbusters-vr-bonew...