Playtest could have easily been a good Tales From The Crypt episode
Made me think of the Tales episode Horror in the Night, also about a man who can't trust his eyes. For much of the runtime it's a high tech version of the classic "stay in a haunted overnight for a reward" premise, and I adored that. I kept thinking of what the Cryptkeeper wraparound bits for this story would have been. "You know, kiddies, they say video games destroy your brain, but I guess Cooper found out the hard way! Hee hee hee!"
Yes, the ending is disappointing and makes a lot of exposition in the rest of the story feel pointless, but hot damn, the journey up to that point is incredible. Also, I fell in love with Hannah John Kamen. Did she remind anyone else of the actress Claudia Black?
If you must blink, do it now.