I have questions
1. Who is the target group ? (those who want it, can't afford it, those who can afford it, don't want it)
2. What is the key-feature (use case) for this product ?
In its current state The product will not succeed. If it is 40% of the price and the hardware is smaller (not something that's doable right now), then it will sell like hotcakes.
I know a few who have bought the Oculus Quest, and when they have walked the line on the board above skyscrapers, it ends up on the shelf collecting dust.
As of right now, it's purely gimmick, nothing that this product can do, is simpler to do, than already available on much cheaper products.
Remember the 3D flatscreens ?, they only needed lightweight glasses, and nobody uses it anymore. Why?, because reasons