Technology

but it’s utterly useless.

That imo has been the issue with VR/AR for a while now. The Hardware as you said is pretty good by now and looking at something like the quest even afforable. What's lacking is content and use cases.

Smartphones had an easier time being adopted, since it was just moving from a larger to a smaller screen. But VR/AR actually needs a new type of content to make use of it's capabilities. And there you run into a chicken/egg problem, where no one is putting in the effort (and vr content is harder to produce) without a large user base.

Just games and some office stuff (that you can do just as well on a regular pc) aren't cutting it. You'd need stuff like every major sport event being broadcast with unique content, e.g. formula one with the ability to put yourself into the driver seat of any car.