A:Answer Nope this isn't a fad. This technology is already used by NASA and a number of other agencies for training. True, this is the beginning of mass marketing and development of the technology...but I can tell you that while HTC and Oculus are considered cutting edge, this particular little item absolutely holds it's own and then some.
I'm not a console gamer, I prefer PC, BUT VR is not like watching something, it is experiencing something, and that can't be replicated anywhere. The opportunities for content development are endless with this. BTW, the graphics are quite good. It's worth trying one somewhere.