It seems ridiculous to think that VR displays will get so good that there's no longer demand for the billions of traditional flat-panel LCDs that make up the core of all our modern electronics. But you have to remember just how long 20 years is in terms of modern technology.
Think back to 1994. Imagine someone telling you back then that, in the world of 2014, mobile telephone technology would be so good that consumers would be dropping landlines in droves for pocket-sized phones that serve as mini-computers. Imagine the 1994 version of you hearing that it would be nearly impossible to find a record store or Blockbuster video on the streets in 2014 because people simply download the entertainment they want on demand. Think of how someone in 1994 would react to professional photographers largely giving up film cameras for high-quality digital imaging, or common consumer-level software that speaks with and understands human voice, or 3D graphics in video games that look many times better than anything in Toy Story. Actually, don't tell them that last part—Toy Story was still a year away in 1994.
The point is that a lot can change in 20 years, technologically, and that the world of 2034 is thus practically inconceivable from our current vantage point. There's a decent argument to be made that the next 20 years of tech progress will be even more rapid than the last 20 as well, meaning we have even less idea what things will be like in two decades than we had back in 1994.
damn. never thought 20 years can make such a huge difference. if VR takes off like many assume, people might choose to be in the tv show or movie rather than watching it passively on a flat screen.