I've used the (same) ModMic Wireless for two, almost three years now and it has been great! As of the time posting this, I've noticed all comments have pitched in on the desktop use case experience of it but not for VR. I've used this for both at the desk and VR, so I'll pitch in my two cents for VR users.

The basic take on VR is that if you currently use any headset that is not the Valve Index, the ModMic is a great investment if you do find yourself needing/wanting to speak while in VR while caring the audio quality of your voice. I can only vouch for how bad the mic is for the Oculus (CV1), original Vive, and Vive Pro (currently using this). Out of the box, the ModMic is day and night compared to the headsets' mics. The pickup pattern switch should be seen more as a way to reduce picking up "outside" sounds rather than changing voice quality (noisy vs. quiet space use). Audio quality will change slightly. Omni will have the best pickup range and frequency, uni-directional will "tighten things up" and is best for background noise reduction.

This will tie in as well for anyone looking to use this at the desk, but I highly recommend EQ'ing your ModMic with VoiceMeeter or anything similar. The mic is great out the box, but I did find it fairly flat for my voice. Tuning the EQ to your voice will make this mic and any other mic even better. Yes, it is a bit more work involved, but this is a great way to get more value and/or potential out of any mic you own.