VPL Research did do real work and everyone I've interacted with from that era was impressed with what they achieved given their limited resources. That said, it is pretty clear from looking at modern VR systems how little they relate to the future he predicted. Not discounting his accomplishments at all - I actually think a lot his output was pretty incredible!

I certainly think Palmer Lucky could in many ways have at least a legitimate claim to being a founder of modern VR; his Oculus not only completely revived the industry but also showed other companies that there was indeed a market for this tech.