Covid made me realize that E3 should be virtual anyways. A virtual conference game, where you pilot an avatar around any anyone anywhere can attend. Obviously it should support VR, but it does not need to be VR only.

IMO the company best poised to tackle this is Valve. I'd love to see them "host" one around the winter and summer sales. And another for revealing up and coming games in the spring, ala E3. For the companies doing a gameplay demo, setting up a few boxes and letting players control them via screen share. It is not perfect, but it would work, and a whole lot more people would get a chance to play. Plus it gives indie devs a better chance at being there.