There is a 3rd option of a voxel movie. Its still tech in development, but would allow you to walk around a 3D orgy.

Multiple cameras and a shed load of processing can capture the scene as a voxel movie.

The main issues are

Low resolution. Voxels in the test movies I've seen are big, a childs head fitted inside a 100x100x100 cube. Of course this is a current limitation and will rapidly improve.

File size. Are massive, and would grow exponentially with resolution.

Dark areas. Any where not caught by camera can't be presented.

If VR and I are still alive in 10 years, I might give it a whirl.

Does creating VR goggle movies need some kind of special 360 degree cameras or something? I was just thinking that most porn these days seem to be some low quality gonzo porn, quite often made by total amateurs at their homes etc (or so my friends tell me... :)), so I'd figure only a small number of porn "movies" would be VR-ready.

Or do the VR goggles make old (porn) movies more immersive as well, making it look like John Holmes' humongous dick is about to hit your face so you duck instinctively?

Then again, maybe that would see a revival of commercial porn movies, but somehow I feel nowadays most people are so accustomed of internet being full of free porn, just like they are accustomed to cheap Steam sales or free-to-play mobile games. Also I'm unsure if people want to wear VR goggles while they are jerking off.

For VR we are looking at a screen 1cm from your face and head tracking?

I see loads of problem playing anything that is not a very simple game.

Imagine someone coming in and you not even noticing.

Or you missing the tissue and hitting the cat instead. Then you'll have to wash the whole cat in a washing machine.

You might want to reference the manual before that. Perhaps there's a VR version of the manual.
It would be really weird if while you were wanking someone walked in and you just kept wanking due to not noticing. xD

For a start, VR porn will be like any 360 movie, which (apart from the low res) already opens up new possibilities. I agree that it will be more interesting with multiple action scenes happening simultaneously (doesn't need to be an orgy, just more than two people), and I guess that's a direction it would take.

As for free form VR, there's technology today to convert video from multiple cameras into a 3D scene you can move through (example: Replay). Would require more development, but I'm sure that something like this could be used effectively in porn.
It's quite common for industries to live on "whales", where the basic content is free, but if you want something better or more specific you pay, and some people are willing to pay a lot.

That is not using the camera as a camera however. It is equivalent to motion capture (combined with 3D scanning). It will still require runtime rendering, not simply playback. Everything will need to be represented as 3D data.

Like this company: https://www.gametruckparty.com/

I'm sorry, but I just came across this image, and given the current discussion, I couldn't not post it here.

Disclaimer: This is probably NSFW (it isn't porn, though).

Behold! The future of VR porn!

Yeah, and I get shit for posting pics of Lego porn!

Nope, it's this one

Where did you get the idea commercial porn needed a revival? Sure, free amateur porn has impacted it, but commercial porn is still a $10 billion a year business. As for how VR will be used by porn, I would expect most of it would be first-person POV movies, filmed with normal cameras, enhanced with "personal enjoyment" accessories (think Fleshlight connected to your PC). With older porn, I would expect none of it to be VR compatible, but that doesn't mean VR can't be used to watch it. Non-porn services like Hulu and Netflix are already planning "VR theater" apps that allow you to watch non-VR content in virtual locations, no reason porn companies can't do the same.