Earlier quoted context omitted.
It's a chicken and egg problem. Because the hardware is so niche, the software makers don't have an audience to justify a big investment. What's more, content - even if it becomes the Mario of the VR - is not as important as the platform itself for control. Companies and investors realize this and so they focus on platforms. And so we have a bunch of companies vying for a turn at the platform while no one wants to ma…
there's no 'mario' or 'angry birds' of VR yet, that opportunity is wide open for the right company
What smartphones had and VR will never have is a feature like pinch to zoom: something that not only looks impressive but also happens to be routinely demonstrated in a social setting, without the explicit intention of showing off.