The reason arcades were popular is because those games always had better technology than what was available on home consoles.
When home consoles got to be just as good as arcade machines, there was no reason to go to an arcade.
So for this to be successful, it would have to be a combination of Bitcoin and a machine that offers something more than Playstation. Better VR, multiple screens, a seat that moves, specialized controllers or peripherals of some kind, or even interactive real-life moving objects integrated with the game. A fog machine, strobe lights, life-sized moving targets that come out in front of the huge game screen and knock your shock-chair on its back if you don't shoot them in time. Or some kind of fun multiplayer experience that you can't get at home, like a combination of a video game and a paintball course.
Hmmm, you are probably right there. That was exactly the reason why people went to arcades in the past.
With VR I can see a lot of potential for an arcade like system. Especially with platforms that allow you to move while you stay on the spot and real "props" such as guns with movement tracking etc. This would really enhance the experience and is something you would never get at home because of the costs and space/looks it takes.
You could even play VR FPS with multiple people in a room so that you can communicate in real time! And all of that for 0.00xxx bitcoin per game!