Yeah, VR in general sits in this "cool enough to be interesting but bad enough to be disappointing" space.

IMO we could perfect the current iteration of VR and it would still be in that same valley because it still requires 1:1 movement inside a game and outside of it, or using a controller to move which can come with motion sickness and pulls you out of the "reality". Though AR does have the potential to get good since it uses the real world as the game world.

The iteration of VR that will get out of that valley will involve something interacting with our brains themselves rather than our senses, as well as trusting an entity that is capable of developing hardware like that. Though maybe it's for the best that it would be difficult or impossible to trust because I suspect someone getting VR done right will lead to the end of humanity as more and more people escape to fake worlds where they can have godlike powers or where waifus are real and society crumbles around them.