Philospher David Chalmers identifies 2 sides to the VR debate,
virtual realism and
virtual irrealism:
Virtual realism holds that virtual objects really exist, events in virtual reality really take place, experiences in virtual reality are non-illusory and that virtual experiences are as valuable as non-virtual experiences.
Naturally the last statement is value baseband would not be shared by all, however just because one person can't see value in VR doesn't mean it doesn't exist.
Virtual irrealism holds the opposite view, namely that virtual objects do not really exist, events in virtual reality do not really take place, experiences in virtual reality are illusory and that virtual experiences are less valuable than non-virtual experiences.
Again, the last statement is a value judgment only.
http://consc.net/papers/virtual.pdf
In his paper Chalmers extends the
virtual realism position and argues for what he calls a
virtual digitalist view, namely that virtual objects really exist
and are digital objects, events in virtual worlds
are largely digital events that really take place, experiences in virtual reality involve non-illusory perceptions
of a digital world and virtual experiences
of a digital world can be about as valuable as non-virtual experiences
of a non-digital world.