I see this as extremely good news.
Positives of Facebook entering into VR race:
- Oculus now has infinite budget to craft perfect hardware, software and entire VR platform for PC and portables
- Countless more developers will become interested in VR, short byte-size games will find much larger audience on VR
- VR promotion on Facebook.com = MILLIONS of VR adopters on day 1
- More VR users of all kinds = more AAA games for us PC gamers
- Immediate infusion of entertainment/documentary/travel content
- Holy grail of VR - social networking inside minecraft-esque VR space. Just what Snow Crash depicted in its Metaverse.
- with stylized design, VR metaverse could be run even from iOS/Android phones
- Facebook can sell hardware with loss, providing incredibly HQ hardware for ~$99
- Presence of strong player in VR will force Sony to become very invested in VR, making much more compelling product and enabling 3rd parties much more streamlined patch toward porting games to PS4
Negatives?
So far, none, as long PC gamers get what they were promised [and FB is willing not to interfere with that].
This is good news for VR.