At the moment it looks like the cardboard-like VR solutions bring a cheap VR experience which it does. Downside however is the limited graphical capabilities, mainly in speed, not resolution and the limited capabilities of smartphones to run large 3d applications. Besides this there are no input controls like controlers, steering wheels and yokes.
The Oculus-like solutions which use a high end PC or game-console to run the application and only use the headset for internal tracking and display are much more appealing for the next few years.
In mass production the costs of these headsets will be so low that they will probably become part of a standard offering of a game-console.
The list of applications for VR headsets are unlimited imo (even assuming the need of a PC/Console)
* Flight simulation, in combination with real hardware like yokes, rudders and throttles
* Race simulation, in combinatin with steering wheel and peddals
* Retail: view any product in full 3d all arround view from home.
* Real Estate: Walk through a property inside and outside
* Holiday: check your holiday destination before you book by walking through the area
* Social: Virtual meeting points or augmented reality where your friend virtualy is in your room
* Porn: Imagine it yourselfs. probably the first thing available and most profitable.
* MMORPG: Be in the game instead of watching it.
* Virtual park visits: Theme parks, museums, concerts, wild parks, anything.
* Keeping busy elderly poeple, sick people, demented people.
* Exploring: Uninhabitable or dangerous places like Mars or bomb-sites.
* Movie: Experience like sitting in a movie theatre looking at a large screen
* Medical: Already used in psychology to put poeple in real life situations.
* Retail: See how clothes look on your body in 3d. Ultra fast switching combinations.
* Sports simulation: Hook it up to a indoor exercise bike with forced feedback from the PC
* Sport simulation: Hook it up to a treadmill with forced feedback from the PC
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