Elder Sign podcast discussion of the work, which was published around 1950 or 51:
This particular tale foretells a future "smart home" just like the ones today; but it also includes a little holodeck for the kids to play around in. The parents get worried when the kids seem to take a liking to visiting "The Veldt" in the holodeck, which shows them a super-realistic representation of an African locale populated by lions that prey on and eat other animals. The parents get worried that their kids have some kind of psychological problem, as what kind of sick mind would enjoy seeing animals prey on one another?
Furthermore, in this future world, the parents lead a life of leisure, as everything is done for them due to automation. Bradbury makes this seem like a bad thing, perhaps like the Isle of the Lotus Eaters of ancient Greek myths -- mankind is meant to toil... to struggle, not sit around all day doing nothing.