VR isn't dead. It's not alive either.

It's just not it's time yet for mass adoption, however it might be.

VR/AR continues to have an increasing footprint of usage and adoption as the technologies evolve.

This has been the same cycle for over 20 years.

Once we get past 4K displays to 8K at a reasonable cost level, it again will introduce a new audience to VR/AR, and a larger and larger existing audience will sit here nodding along.

VR has gotten much better and it's fine for whomever it works for, it doesn't have to work for everyone, even if a big company took a bet on the timing of it being now.

I don't think VR will ever reach mass adoption, I don't think there's any reason for it to. It isn't sufficiently superior to screens and keyboard/mouse or phones to warrant it. I liken the hype around VR to the hype around LLMs - it's good at some things, but not everything.