Meta (Facebook) is laying off 10% of its Reality Labs group, including many in the VR space.

https://gizmodo.com/maybe-vr-doesnt-need-meta-after-all-2000713026

Is VR – which was going to be the next great thing after 3D died – now on its own downhill slide?

The thing is, there’s a chance that VR was never really meant to be such a massive category. As great as the experience can be, these aren’t devices that most people want to use all the time, and any company pitching one that way (looking at you, Apple Vision Pro) hasn’t really gained much traction. What if—and hear me out—VR wasn’t meant to go mainstream? Maybe it’s just a niche thing, and that’s okay?

The market is spinning this story both ways – VR is now dead – or, may be its not quite dead – https://news.google.com/search?q=is%20virtual%20reality%20dead%3F&hl=en-US&gl=US&ceid=US%3Aen