I already tried GOpherVR and the like (without glasses) and there's more 'cyberspace' in Usenet, Gopher, Gemini, IRC with actual people talking about real life issues than under 3D sims.
You can have realist environments but without people it's just a boring videogame with no interaction. And for that we already have Street View and multimedia CD's with virtual cities since the mid-late 90's.