I thought the same thing, and there's no way using a resistance band feels anything like an actual punch. It looks like what DDR is to dancing, which to be fair, is how I lost a good amount of weight in high school.
Can see where you're coming from - VR's key USP is often touted as'immersion'.
For us, it's about building something that is exciting enough to distract you from the workout you're doing - the gaming takes over from the awareness of your exercise in your mind. There are a number of ways to do this, some would include VR. For now we've opted against it as our users found VR fitness too sweaty and uncomfortable in its present form.
Where do you stand on VR? Do you have any of the headsets currently?
I'm a big fan of VR in general (but looking forward to improvements in comfort).
How sweaty you find it is surely a function of your local climate and availability of air-con. I wouldn't play Beat Saber in the summer without good air flow but then I'm in the UK where air-con is fairly rare in the home.
But I can happily play for 45-60 minutes when it's not super hot in the house.