In the genres that it does well? Absolutely.
Racing sims and aviation sims go hand in hand with VR, even if headsets are big and bulky and halfway to the size of a helmet. Going from a 24" screen to a HMD, the only time I switch back to pancake mode in games like Elite Dangerous is because it's easier to take screenshots.
For other genres it's a mixed bag. If you look at VR first person shooters, they pretty much need to be designed for VR from the get go, and no matter how you do the math, your target audience is always going to be a fraction of what you'd get making a game for flat screens, so it's a no brainer where the businesses are going to invest their money.
HMDs have advanced enough in technology that they're hitting 120Hz and 4K resolution per eye, while controllers have become accurate, reliable and dexterous enough to surpass the status of gimmick. I'd say VR has definitely matured and solidified its position in videogame industry. It's never going to replace normal keyboard and mouse, but it's become viable enough that it has passed that critical mass where it's here to stay.