AR and VR may be the ultimate platforms, but there's a long way ahead of both with no end in sight. Sufficiently advanced may be a miracle, but talking about reasonable timelines - year, maybe two - they will be better than they are and somewhat magical... but as an extension of what's already on the market (Rift, Vive, Gear) or what will be on the market soon-ish (Magic Leap).
The value VR will get better, especially with inside-out tracking and foveated rendering - and still, that may happen in the 2 year timeline.
Everything beyond that it's simply too complex to predict. If economies of our world collapse in the next five years, there will be no AR or VR of any kind needed. So, you know. : )
Right now proper, PC based VR is bit too expensive. Next 2 years may bring costs down and technology used - up. Oculus is right saying that the content is kind, but the magic will happen on the intersection of hardware and software, as usual.
I don't think it will fizzle out like 3D TV, though.