That's not true.
I've seen VR and AR used in practical applications by multiple different companies. VR movies, chatrooms, event viewing, etc... is all dope too. The problem is that you have to get people to buy-in to the concepts first or the tech will never take out. Meta understood that at first. Their original plan was to slash prices on the Quest 2 to make it so pretty much anyone could pick it up. Then once they had a huge amount of people invested into their virtual platform, they were going to drop that Quest Pro with all the extra features and higher price tag. They flipped that strategy though. Instead, they kept the price for the Quest 2 high for as long as possible and used the profits from that to subsidize the Quest Pro, so that it only cost $1000. The problem is that you still didn't have enough people interested enough in taking the plunge to actually spend a G on a headset.
I'll say it again. Apple fumbled this shit. They were the ones that could have really brought VR/AR/MR to the forefront. All they had to do was make a reasonably priced version partner up with phone and other tech companies to package the headset with phones the same way they do with the Apple watch and iPad and they would have gotten a lot of people in the door. Then they could have stepped the game up a bit with the next generation.