Watching a 2D film on a stereo 3D VR device sorta makes sense that it's not super interesting. Other than being able to resize the screen and reposition it, you're not getting much.
The games are crappy right now, I agree.
I think few die-hard VR or AR enthusiasts would argue that the content and use cases have a long way to go. Most games are either more akin to going to a paintball course or playing DDR than they are similar to sitting down to play a classic video game. Which is a fun experience but clearly isn't gaming.
And the blockbuster 2D game ports to VR are few and far between, and it's not fun playing Skyrim for the 50th time just because now it's stereo 3D.
For me, I've found that stereo video recorded on high end stereoscopic 180 degree camera setups is really compelling. For example video recorded using ZCam K2 Pro. The only studios really using that tech extensively currently are for adult video. For me the best of those experiences feels like the future, the next big medium. If it were possible to combine 6 degrees of freedom with stereo video, I am convinced it'd be immediately successful, but I still think 3 degree of freedom stereo video that's possible today is far superior to flat video.
I can envision future Hollywood or Netflix productions where you feel like you're watching from an invisible drone floating right there in the scene, with full depth and a sense of real scale. It will take new artistic direction, things like panning the camera become nausea-inducing for some viewers but incredibly presence-inducing for others (if moved slowly enough and with a gimbal). Cuts feel different, too many fast cuts too quickly are much more difficult to visually process in stereo than on a laptop screen. But on the other hand, some editing effects like a dissolve are incredibly trippy and a new type of experience in VR. Seeing double vision where both scenes have depth is really interesting. Anyway, it's closer to watching a play in a theater or being at Sleep No More than watching a TV show.
The bottleneck right now is content and production costs, that's about it.