I think most people have covered what the main things Sony need to do in order to get the most of the Morpheus launch:
Price Cant be too expensive, im thinking £250 give or take would be a good starting point. People using the But.but.but. you have to buy a console too, its so expensive line arent factoring in that by the time Morpheus comes out the PS4 will most likely have at least 30 million owners who will already have the console paid for and so its a non issue. Also Sony know that they cant overprice it otherwise it will be destined to fail.
Hands on They need to get the average Joe to try this out because anyone who has tried VR knows that thinking you know what the experience is like and actually knowing are 2 totally different things.
Games Having some great software is key to getting people to wanting to play, you have something addictive or just really unique and engaging and they will be onto a winner.
Name I have been thinking about it and I honestly think that Sony could benefit from simply naming it Playstation VR. The main reason for this is that it instantly gets across what the device is rather than cause confusion like the PS Vita did (Should have named it PSP2) or the Wii U (Is it an add on?).
On a separate note, VR threads on Gaf seem to be another where many just cant see things from the mainstream perspective and can only think of from their own.
The main thing I keep reading from people who cant wrap their head around Morpheus being successful is that it either needs to be PC compatible or that the PC alternatives will do much better.
Anecdotal I know but I know literarily 1 person who owns a PC that might be capable of using the Rift et al and thats only because he decided to get back into gaming after 20 years due to Elite Dangerous and even that doesnt run 100% perfect for him. A lot of Gaf seem to put way too much emphasis on the popularity of PC as a platform. Dont get me wrong, it does of course do amazingly well and is the most popular gaming platform today (Apart from mobile I suppose) but when you are talking about the people who have a rig that is up to scratch to take on VR (And what Occulus and Valve are proposing) im willing to bet its a lot smaller sample size.
With the Morpheus you have none of those worries, the barrier for entry is do you own a PS4? rather than Does your PC have these particular specs?. Also you have to take into consideration that for something like VR, youre going to want to plug it in and play instantly with no concerns of getting performance right or changing settings etc. which I can imagine is going to not be 100% smooth sailing for many PC VR gaming experiences.
After the PS4 I have faith that Sony realise the pitfalls involved in releasing a platform and what needs to be done to avoid those and as such they are going to do everything they can to make the Morpheus a successful launch, especially considering they have come out and said that they consider the relase of Morpheus as a whole new platform for them. I feel that Morpheus will (As long as something terrible doesnt happen) be the clear winner out of all the platforms. The only other option I can see is a mobile phone variant that accepts any modern Smart phone and thus has the wide appeal reach to draw people in without being limited to one particular brand such as the Samsung version.