In addition to what Eyeteeth and EvilDraconis have said, I think two other points really apply here:
1 - With the internet and ever more advanced computing power, any person or group with programming expertise and graphic design capability can create a video game with whatever content they want, including ryona. That right there means that ryona in games will never die so long as there are people who meet those criteria who also like ryona, and want to put in the time and effort to make content.
2 - Whether or not high budget A or AAA titles have ryona or are in third person will depend on any of a number of factors, all boiling down to where the money is, since the aim is to make as much money as possible per release. But as EvilDracois says, I don't see third person games, or at least games with a choice between first and third person(A nice middle ground I think) going away any time soon for big time developers.
I think it's important to distinguish between actual VR, and the mostly primitive bulky headsets that barely approximate virtual visuals of the past 30 years or so. Until recently the technology just wasn't up to scratch. I think VR itself isn't a gimmick, and will inevitably be a huge part of future technology and video gaming, but there is no reason for it to be restricted to first person. VR just means you 'experience it like you're actually there' to put it simply. Doesn't mean you have to look through the eyes of the main character, that's just the easiest conceptualization.
There's actually not a single thing that gets me more excited for the future of video games, and kink in a virtual setting(including ryona), than VR. Think of Second Life for example: in that case you have essentially a framework that anyone can build upon and cater to any niche they want(at least mostly), all contained in the same virtual world. Part of the result has been all sorts of kink-related interactive stuff springing up: working restraints, dungeons, traps, games-within-a-game etc, in addition to the mountains of non-BDSM/kink content also created, mostly made by individuals expressing their interests, independent of publishing restrictions and money making goals. And the number of instances of this is growing all the time, along with the growth of graphics/physics capability.
Now to be clear I'm not praising Second Life so much, it has quite a few problems, probably even in comparison to current 'virtual world' alternatives like OpenSim, just using it as an example. If you take some of the principles and apply it to VR immersion(or even a computer monitor) and graphics rendering and physics that maybe a 2025-2030 era computer could create and or stream across a network, you have the nearly endless potential for user generated high quality content that dwarfs anything we see today(including third person ryona) all occupying a common space in certain cases, and stand-alone games in others in the form of modding, and mostly only limited by people's development skill and imagination.
Now the reason I focus on indie development so much here, is because just as it's always been I don't really see great potential for ryona in the mainstream, because the meanstream developers have to appeal to, and not offend, a wide audience in order to make their millions per game, though we'll undoubtedly get the occasional treat here and there.
In short: all signs for me point toward the future of ryona being just fine.
