I'm seeing massive support for VR from every major display and gaming company, so I'm not sure where the idea that it is a flop is coming from. Content is not flooding in like it was in the beginning, but as shponglefan pointed out, even heavy users are finding a backlog of content to explore. With major game developers working on top tier titles as well as retrofitting older hits to work well with VR, anyone who plays a game for more than a few days will be in content for the foreseeable future.
Right now, the things slowing it down are twofold:
First, the cost is still prohibitively high for the best experience. You can get a middle of the road experience for a fairly reasonable price, a low end experience for practically nothing, but if you really want to see the future of gaming, it takes a substantial investment. Not many people are willing to drop $2k to get started with first gen tech that still has a long way to go before it is perfect.
Second, the tech cycle is not as fast as consumers like. Months after the Vive finally hit the street, people were asking how they could upgrade or when the next gen will be out. They want higher resolution, better lenses, wireless, more comfortable headsets, more sensors, and games that will support full body sensing. It is all coming, but it is slow to get here. Wireless was deemed impossible by the armchair developers out there, yet within a couple months of HTC funding the best ideas, a working prototype was out and available for preorder in Japan. And it works without sacrificing quality and latency. But it still isn't available in the States. Heck, even the simple audio and headset upgrade is not yet available, despite the announcement before the new year. Some people have done their own sensor pucks and created demos that track your entire body, but the pucks are still not available, and until they are, there won't be much demand for games that you can kick a zombie in the face. And as for a second gen headset, the rumors are saying another 2 years before HTC has something available.
When the next gen hits, a lot of the biggest complaints will be worked out, and hopefully price will start to come down (in the form of the first gen being remade with cheaper tech and better mass manufacturing techniques). By then, all this money being dumped into the tech in the background will produce some really great results, and the high end VR will start to become more mainstream.
I wouldn't compare this to 3D televisions, I would compare it to 3D games. When games first went to 3D, it took hella expensive cards to even play at all. But despite this, it was embraced by the gaming community (a multi-billion dollar market) simply because it was so awesome of an enhancement over 2D games, and defined the direction of even cheap appliances like xbox's and playstations. Before xbox came out, your option was to spend $300-$1000 on JUST the graphics card in a computer if you wanted to play these kinds of games. Today you can do this on your smartphone, any console, android TV, PC's with integrated graphics chips, and of course, in high end gaming rigs. It went mainstream and stuck around, despite the "early adopter" prices that were prohibitive and seen as a gimmick. Give this tech 3 or 4 years of niche gamers spending several thousand dollars every couple years upgrading before we will see PC's and Consoles coming with lifelike resolution headsets for mere hundreds of dollars, not thousands.
As for 3D television, it was never going to end up mainstream. 3D video is a movie technology. It takes incredibly expensive cameras to film natively, or a TON of post-processing to get even moderately right. Nobody is going to invest that kind of money into a TV show. Besides, as PBJ pointed out, as long as there are glasses involved, it isn't going to go anywhere. Shutter glasses suck in comparison to passive glasses, but nobody is going to spend a couple hundred thousand dollars to get a projector capable of doing passive 3D in their home.
On the other hand, the media is still there, and as VR technology grows, the potential for watching 3D movies is going to grow too. Trust me on this, 3D in VR is second to NOTHING. There is no cross talk, no filter between your eyes and the screen, and no requirement for keeping your head aligned with the screen. And it is more immersive too, because it fills your entire FoV. A movie in VR, once the technology is a couple generations older, will be amazing, and I will be one of those early adopters.