As a Vive VR owner going on ~6 years with that setup, yeah I don't know why anyone would spend as much as a PS5 for a VR headset. I really like some aspects of VR gaming, but overall, for me at least, it's pretty clear it's a very niche device.
There are a few genres that translate reasonable well to VR but most of the big categories do not. Things like sports game (Madden, NBA 22/23, NHL 22/23,etc), likely impossible to adapt to VR. Platformers, ditto. Strategy games, why? MMO's? Maybe, but probably not either.
The fast majority of actual, good / fun / successful games in VR are of a few very specific types. Wave shooters (Space Pirate Trainer, Blasters of the Universes — both excellent btw), and some FPS (ideal created specifically for VR - aka Half Life: Alyx is the gold standard). There are very few entirely new play experiences / game mechanics in VR to date; aka Beat Saber, Pistol Whip and... that's all I can think of. Both are great workout games btw. The only other great VR title that I play / played a ton is In Death, and that's a bit of a unique bow shooter, which I guess is another VR genre (bow games). Great game, probably the best of that type.
Speaking of which, I do like the physical nature of VR and for me, I tend to use it as a post-workout way to get in some extra cardio with a nice amount of hand-eye/tracking mixed in. Games like Beat Saber and Space Pirate Trainer, when played non-stop for let's say 30 minutes or so, yeah you actually burn significant calories.
Outside of that you have the sim category and that could be work if you are super into racing games, flight sims, and that sort of thing. I've played with a few race games in VR, mostly it works ok, but not quite as well as I'd of thought (but maybe I need to invest in a proper FF wheel, a gamepad kinda ruins it).
I enjoy VR gaming but I think it's going to remain a niche until we get to some crazy, super advanced state where we can by pass our eyes and 'beam' info right into the brain (however the hell that would work); aka achieving a sort of ST Holodeck level type thing. Or maybe Nintendo in a few generation will embrace VR and then we get some truly unique / new game mechanics. I don't know what else is going to break open this genre, but right now it doesn't feel like it's moving forward at all where it matters most - the software.