Are virtual worlds still important?

As part of the recent Massively Speaking bicentennial, we were reminiscing about the fact that Massively used to have a much heavier focus on virtual worlds. While we still touch on those from time to time, these types of "games" don't seem to be as hot as they once were. Or maybe they are and we're just not seeing it!

From Habitat to The Sims Online to Second Life, there have been many attempts at constructing vibrant, community-driven virtual worlds that would draw in players looking to create dual lives that were flashier and more fantastic than their real lives. These games once were heralded as the wave of the future, but it seems as if that wave has since moved on to bashing things with their +4 Clubs of Exquisite Suffering.

So what say you: Are virtual worlds still important? Are we trying to return to the concept by embracing sandbox principles? Are they best left to wither and die in the annals of history?

TH