It has absolutely nothing to do with that.
If you read this statement in context, it has nothing to do with him thinking it's going to fail, either. He is merely saying that whether or not it ultimately succeeds or fails, Valve is going to put full effort into it because they believe it's the future.
I have seen this quoted a number of times now on various sites like "OHH NOOO VR IS FAILING" when in reality it's anything but
sure his statements are taken a bit out of context but for anyone of his stature in the industry to talk about if/when VR fails is a big black eye to the industry...whether you say VR is failing or VR is not succeeding it's basically the same meaning....the fact of the matter is that 3D in its infancy was way more successful then VR (I have a Panasonic 3D plasma)...and the people that are comparing 3D to VR are not doing so in terms of the technology itself but rather the barriers that are preventing people from purchasing it...VR and 3D suffer from the same types of obstacles to consumer acceptance