One of the biggest problem (and challenge) of Web VR is the lack of performance. Mozilla and Google Chrome browsers have presented developments in this direction, with WebGL, but not comparable to the performance of native VR games or experiences. HCI problems related to text input make it very difficult to use Web in VR mode. Data streaming is also a challenge too, once most of the best VR experiences require many gigabytes of offline content. To finalize, lack of VR content on the web is also a big challenge.
As your question is more or less general, I would say that João has quite well summarized the challenges that web VR is facing these days. There are few research papers (plus a book chapter) that approach this topics from different perspectives.
Pakkanen, T., Hakulinen, J., Jokela, T., Rakkolainen, I., Kangas, J., Piippo, P., Raisamo, R. and Salmimaa, M., 2017, March. Interaction with WebVR 360° video player: Comparing three interaction paradigms. In 2017 IEEE Virtual Reality (VR)(pp. 279-280). IEEE.
Seo, D., Lee, J. and Yoo, B., 2017, July. Webizing Virtual Reality-Based Interactive Interior Design System. In International Conference on Human-Computer Interaction (pp. 68-72). Springer, Cham.
Butcher, P.W. and Ritsos, P.D., 2017, September. Building immersive data visualizations for the web. In 2017 International Conference on Cyberworlds (CW) (pp. 142-145). IEEE.
Neelakantam, S. and Pant, T., 2017. Introduction to VR and WebVR. In Learning Web-based Virtual Reality (pp. 1-4). Apress, Berkeley, CA.
Dibbern, C., Uhr, M., Krupke, D. and Steinicke, F., 2018. Can WebVR further the adoption of Virtual Reality?. Mensch und Computer 2018-Usability Professionals.
Petrykowski, M., Berger, P., Hennig, P. and Meinel, C., 2018, November. Digital Collaboration with a Whiteboard in Virtual Reality. In Proceedings of the Future Technologies Conference (pp. 962-981). Springer, Cham.
Yep, I agree. Content is the King for WebVR in the early development stage. However, we have a lot of free 3d models there, also free 3d software to create model. We also have new type 3d model for web (gltf). When you create a presentation or a web app, do you ever think make WebVR first?
I highly recommend checking Web3D conference and a range of issues explored there by both reserachers and practitioners - VR is only one of several major technologies of interest (others include Mixed-Augmented Reality, humanoid animation, geospatial, etc). The conference is organized by Web3D Consortium http://www.web3d.org/
Preparations for Web3D 2019 are underway, and likely dates are 26-28 July in Los Angeles California USA; it is collocated with SIGGRAPH 2019, 28 July - 1 August.
Here is a short blurb they provide: “About the Consortium: Founded in 1997, we are an International, non-profit, member-funded, industry standards development organization. We develop and maintain royalty-free ISO standards for web-based 3D graphics. Our standard X3D (Extensible 3D) originated from VRML and is available in XML, Compressed Binary, and classic VRML formats. X3D is open, royalty free, extensible, interoperable, and runs on all platforms including desktops, tablets, and phones. Our members are from business, academia, government and the military.”