Have you worn an Oculus? No, you haven't. Which is why you think it is an 'abortion'. I have spent the better part of a year with an early development kit and I can tell you it's already a highly entertaining experience that will only get better over time.
> People don't want to wear headgear for their media consumption.
People don't want to watch a wall-mounted rectangle for their media consumption. Both are asinine statements. Anyway, VR isn't so much about consuming media. It's about being part of an interactive experience that can't be replicated any other way.
> 2 decades passed since the last time they tried this shit and failed.
Yes, it was super expensive back then, there was next to no content and the overall experience was absolutely horrible by anyone's standards.
So what's different this time? Technology has improved immensely. Field of view is much larger, latency is way down, resolution is way up, and weight is a small fraction of the early headsets. Oh, also most households already have the computers necessary to drive a decent VR experience. And content? It's coming. There are thousands of 3d games that can benefit from VR with only a few months of additional development effort and hundreds of new titles already being built. Furthermore, VR headsets will be in the same price range as a typical game console or high end video card. It is now right in the cross-hairs of the mainstream digital consumer.