Consoles will not die out. They may change some, but I think we will start seeing VR technologies soon.
I'm talking about the three major brands: Xbox, Playstation (Then again, Sony is in a bad situation as it is) and Nintendo (Then again, you don't see squeakers on Nintendo). I'm talking about basic video game console brands, a.k.a. the big three. I don't think anyone really wants to use VR as a means to relax. Do you think VR will be able to handle the Witcher 3? (Then again, I don't think the "next gen" consoles will suffice a good port) Nope. How bout Fallout 4 or Elder Scrolls 6? Nope. How bout COD 9000 (bad example, Cod isn't the most demanding, heck, the Wii U can handle it) VR probably will take 5 years to become as powerful as the "NEXT GEN" consoles. Oh, wait. By then, we will see the PS5, The Xbox (___) and the Nintendo (Ok I have no idea).