This question is a bit along the matrix line. But supposing you could "play" a reality and assign parameters to your experience in a virtual world, some may place themselves in a position to make great discoveries or travel to new planets, others may be kings, some perhaps will play out a life of fame and wealth, maybe totally based on satisfaction of desires etc.

Assuming you could be anyone or do anything living in a programmed world revolving around you
Who wouldnt plug in? Who would live in the real world where they are more than likely the middle/working class majority left in a place with no investment or interest from others.

The problems I have with such a device is;
a). If you know you have been plugged in the achievements become meaningless and staged. Theres no authenticity to your successes.
b). If you dont know you are plugged in there is nothing to prevent the fear/anxiety of failure from taking over which ironically could be the very cause of ones downfall/ inability to reach your goal. And if your goal is inevitable regardless of how you behave then your reign, triumph or discoveries etc wouldnt make any sense and be rather ridiculous.

If you dont know you're plugged in then you might as well be living in the actual world outside the VR