VR isn't a hype bubble at all though. It's just that graphics tech has only recently gotten powerful enough to pull it off, but it's still expensive. It'll come down in price and get better in quality, while probably staying relatively small due to the setups needed. It's just like any high-end gaming setups. Most people are fine with simple gaming on their phone (Angry Birds or whatever is popular these days), some want consoles, some want powerful PCs, some are satisfied with Oculus Quest type VR devices, and some want quite powerful PCs for VR. VR is growing way too slowly and steadily to really characterize as "hype".

I've been playing "VTOL VR", and it's really showcasing the potential of VR for things like training.

Whats more, it's one of those games that could conceivably run on a very cheap VR headset in the next few years.

VR is already widely used in industrial training. Send a forklift driver through VR training and the safety lessons might stick a little bit better, so your insurance company will cut you a discount and it can pay for itself.

Indeed. That being said, I think it has even more potential in making more adaptable simulators of things that we couldn't simulate well or dynamically enough before.

Games are huge and, as a result, VR as a vehicle for delivering games will be huge. IMHO the world-changer is going to be AR, and the two will likely retain many complementary objectives in hardware/software/skillsets.