The Hindus have a word, maya, which loosely translated means illusion, and more specifically the illusory nature of the physical world we see around us. The senses fool us.
Reality is a construct of our conscious imaginations.
The central argument we've been exploring is why society would allow this scenario to develop. The essential drawback to VR is that it entirely removes the participant from the physical world. You can't walk around. There are no scents or tastes. Even tactile feedback systems, which apply pressure to the skin from special gloves or suits, show no promise of becoming convincing.