not sure i understand what you mean by no functional content, but resident evil has changed pretty significantly over the past 20 years. resident evil 1-3 basically defined the early survival horror genre (or at least brought it to the mainstream), resident evil 4 pushed the action genre and inspired many popular games (hello gears of war), resident evil 5-6 were poorly regarded imitations of resident evil 4 that went even further in the action genre.
resident evil 7 has a completely new design philosophy, it's first person but rooted in the series' survival horror beginnings-- it takes a lot of the best concepts from the early games (isolation, item scarcity, persistent enemy stalking (similar to nemesis from resident evil 3)). so if you don't care about resident evil then i don't think you're missing anything, but resi 7 is a very solid return to what made the series great to begin with. and the VR is extremely effective.