Wasm helps. you also need state of the art decoders. And really, full GPU compute access.
streaming will be a problem for awhile to come. youll want to download in advance, something that the web is not yet set up for.
It’s doable, certainly. But the web will make most things harder. When smartphones came about h264 was already quite far along in adoption (released in 2003). VR video is not at that state.
Maybe Apple has an answer for all this. But I don’t think so. VR video is still under development.
By the time VR video is reasonable to do though, i expect things to progress on the web quickly, maybe lagging 6months-year.
This isn't about video, it's about 3D apps. The top 3D porn apps need power similar to the top AAA video games to simulate hair, physics, and to render realistic looking characters. In the same way AAA videos games don't run well in the browser., VR apps in the browser are just as bad.
Also note: even if we're just talking video Safari does not support a webpage going fullscreen which is arguably required to do VR video. But just to be clear again, this isn't about videos, it's about high end real time 3D porn