RocketWerkz chief executive Dean Hall made the comments on social media last month based on his experience releasing the game Out of Ammo for the HTC Vive virtual reality (VR) headset.
Since then, the social media post, which comes while VR is still in its early days, has been picked up by The Guardian and tech websites across the world.
Many news outlets have said the post highlighted the struggles many studios face to make money as they develop for a relatively small number of early adopters of the technology.
Mr Hall said in the post on the website Reddit there was ''no money'' in developing VR games.
''I don't mean 'money to go buy a Ferrari'.
''I mean 'money to make payroll'.''
This was evidenced with Out of Ammo , which despite exceeding sales predictions had still been ''very unprofitable''.
''It is extremely unlikely that it will ever be profitable.''
The unprofitability of making VR games had prompted some gaming studios to partner with headset makers to make games exclusive to one platform, but this enraged many in the VR community.
Mr Hall said while exclusives were not ideal, without them fewer games would be made as they were an important source of revenue for some developers.
''Without this subsidisation there is no way a studio can break even, let alone make a profit.
''As I result, I think we will see more and more micro-projects, and then more and more criticism that there are not more games with more content.''
The level of criticism of VR developers who signed exclusives had made developing for VR ''tiresome'', he said.
''Honestly, I don't think I want to make any more VR games.
''Our staff who work on VR games all want to rotate off after their work is done.''
Other VR developers shared his views, Mr Hall said.
''Privately, developers have been talking about this, but nobody seems to feel comfortable talking about it publicly.''
Mr Hall set up the rapidly expanding RocketWerkz studio in Dunedin in 2015 after his zombie survival game DayZ sold millions of copies.
