The great thing about SteamVR from a competition perspective is how they're basically providing the template towards solving the problems that would had only been addressed in the next iteration of competitive VR devices.
Sony and Oculus has been focused on iterating and making improvements based on either their existing tech (Move/Camera for Sony) or an existing focal point ( Oculus and their current focus on landing a seated experience first and foremost), whereas Valve's feel very much like "here's our solution prototype for the challenges you'll all face after you ship your Gen 1 devices". It does help that Valve is presumably not hindered by any cost concerns, since manufacturing is on their partner's side.
When Oculus2 and Morpheus PS5 comes about, there's no way they can settle on a technological pathway that delivers an inferior experience than Lighthouse.