VR isn't dead so much as in its infancy. The tech is there now thanks to Oculus and HTC/Valve but the price to actually get a working VR setup keeps it from reaching adoption levels that would allow more (and bigger budget) titles to be made.
"Sometimes, there are two sides. But more often, one side says it is a car. And one side says it is an umbrella. And only one is right. And the other one doesn’t deserve our attention." -Shepard Smith