5GB per layer using red laser is not bad...that's the same as DVD and nowadays we have 22X DVD drives. Switching to blue laser you'd have 10GB per layer minimum, not as good as BR or HD DVD but not bad either. The main advantage is theoretically VMD can have many more layers than BR.
5GB per layer is bad density/bandwidth for nextgen storage and VMD with blue laser is not VMD
and more layer is not really an advantage, it's more constrain (disc production constrain, more difficult to read at high speed, break bandwidth when swap between layer...) and BD don't need more layer that is already possible (four, eigth...)
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