Most of it is likely being spent on the backend pieces that support delivery of the content. That being said, it's still an insane amount of money for something

Most of it is likely being spent on the backend pieces that support delivery of the content. That being said, it's still an insane amount of money for something that really needs to wait a few decades for hardware to catch up. Everyone got excited with VR, myself included. I bought a VR rig a few years ago and it's fun, but it's got it's own limitations. My experience with VR: First year of ownership - 400ish hours in VR. Second year of ownership - Maybe 100 hours in VR. Third year of ownership - My wife and I break it out to play beat saber a couple of times a year.