I may have published this before, but I came across this TV Guide article from 1969 and it shows what the early prototypes of a home VCR might have looked like. It appears they planned some sort of "cartridge" type system that would have let you watch a prerecorded show - but not necessarily tape anything. That would have made them like the later laser disc player - all watch, no record. Those didn't last long as a result. 

I get a kick out of the fledgling product preview, indicating how it would have worked:

“The SV player will employ a laser beam and TV camera to translate holographic images from half-inch tape of the same plastic that meat is wrapped in at the supermarkets.” Which gives a whole new meaning to the term “TV dinner!" (And no, it didn't change the need for Pay TV, which also didn't exist at the time.) 

It's also somewhat ironic to note that as of the article date, both NBC and CBS were working on their own versions of a VCR-like machine - reminiscent of the battle the two raged for control of the colour TV system used in North America in the 50s. NBC won both those battles. In fact, my very first VCR was a SelectaVision. It appears the name was one of the few things they kept for what eventually emerged as the must have device for TV fanatics in the late 70s and 80s.