In an interview with Polygon, Sony president Shuhei Yoshida spoke about developing several, smaller VR experiences, rather than allocate resources to one big game. "It’s just the relative progression of any new media.” "When the content side starts investing, you usually start small." Yoshida advised his team to think smaller, because bigger isn't necessarily better. He tells developers "while you’re working on something long-term, the whole industry will learn a lot and you’ll discover half of what you set out to do will become obsolete." Yoshida said it's better to "focus on finding great experiences, and packaging it to deliver, and keep doing that." Yoshida believes huge development teams have no place in virtual reality. Large scale games "will naturally happen" as virtual reality matures. For now "VR is about creating new experiences." Sony will be holding a PlayStation VR event at GDC on March 15. You can read more about that here.
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