Apple

You're correct that the target audience will be media consumption; the miss - if I'm reading the GP correct (and, for the record, I tend to agree) - is that the majority of VR focused activities are game-based. There is certainly a contingent of health/fitness apps out there, but that market and content is trivially small by comparison. Could Apple come out with some really killer app? Sure - there's always the possibility of a twist. Looking at the intersection of user input and iOS-style apps, you're back to (mostly) passive consumption. I'm a huge believer that VR/AR is the future, but I'm struggling to see how these are going to function as an iPad replacement, second screen (primary screen, like Immersed, in special cases I can see), and productivity are going to find a foothold, given the limitations of the OS and lack of connectivity outside of the ecosystem.