I think it will end up being used for more practical purposes in the near future. For example, I imagine it being used to establish things like virtual offices / workplaces (mostly for tech and engineering companies where people can often be remote).
I also see it being used for those people who can no longer travel or stay mobile (accident, illness, dying, war, etc.). This will allow them to experience places as if they were there, once 3D recording becomes more prominent across the globe.
I can imagine it being used for therapy purposes as well, like helping you to overcome something that haunts you by engaging it more directly. It may also be used for the opposite, punishing those who have committed heinous crimes against humanity.
I think it's sort of plateaued for the time being because most of the efforts are going towards gaming, which is generally superficial and shallow. Once people start applying VR towards more real-world issues it will become more ubiquitous. I also see it rising more alongside augmented reality, which I'm personally pretty excited for, but I admit it can be used for evil (like most technology).
