There is one thing that will make me buy VR, it's a full field of vision. They say virtual reality, but they sell virtual binoculars...
I'm just waiting for tech that uses eye-tracking to put a tiny hi-DPI display that "moves around" so it stays right in line with your foveal vision, while having a static, head-wrapping low-DPI display behind it, to cover your peripheral vision. I can't imagine there's any tech that'd let an actual LCD move around at the speed your eyes do. But maybe the foveal display could be from ultra-low-power short-throw laser…
Foveated rendering provides these benefits without needing a mechanical mechanism. (Though it does still require full-field high resolution displays and apparently the eye-tracking requirements haven't been fully solved yet -- which would also preclude your suggestion of a hybrid device.)