Yeah, it's not a super steep discount; I wound up getting $235 for it. Sales tax would've been about another $30 here so it was about $100 off sticker price with probably 10 hours of play.
I believe the main issue is content. Not only us it more difficult to create content for VR, it's at least twice as expensive. VR will IMHO have the same fate as 3D TV"s had. Fancy and interesting in the beginning, but too much of a hassle on the long run.
VR isn't a small improvement on something you already have. It's a whole new thing. I, for one, expect it to be as revolutionary as the WWW - which also lacked for content in the early days.
I agree that content creation is difficult and there is a lack of longer experiences, but OTOH people are willing to pay more per hour of content for these experiences - comparable to movies - and there are also plenty of multiplayer/roguelike games for those who want more hours per dollar.
The proof is in the pudding - the Quest has sold a lot and there are many games in the store already.