Team ICO look to have built a really interesting world, and it is one I want to exist in. With that in mind, thinking about the game in VR is a really interesting proposition. Director on the game Fumito Ueda told GameSpot at E3, that he is way into the tech. While he said there are no plans for the Last Guardian, he marked his enthusiasm.
The scale–the idea itself being able to express a sense of scale through VR–is very appealing and very interesting, For The Last Guardian, we don't have any plans for that, but personally, I will continue to be very interested in VR.
Seeing what Team ICO could do in VR is a pretty wild thought exercise. Their games have such rich texture, it would be quite something to be surrounded by it.