This actually strikes me as the #1 limiting factor for this technology and interactive fiction in general. A good story depends very much on causality. If the viewer in a virtual environment can get stuck in the corner (ie failing to direct attention/activity to key narrative elements) then the basic options are to a) move the viewer along automatically, as in some videogames or b) wait for the viewer to get un-stuck and pick up the story again. Unfortunately the first approach ends up more as a ride than an interactive experience, while the second baldy undermines the suspension of disbelief.
This is not to say there’s no way to do it – if you establish the basic narrative grammar early you can certainly tell an interactive story, but probably at the cost of limiting complexity. The most effective examples I can think of are from ThatGameCompany, especially Journey.