It's not much cheaper when you consider you have to buy a camera too. It also doesn't track walking movement like the Rift or Vive. That said you will probably just as happy..

@Psychotica

The PSVR tracks movement in a similar way as the Rift.

@Unreal01

PSVR will be capable of some pretty nice VR games, but if we're being honest there's no doubt that the PC will be able to achieve higher framerates at a higher level of visual fidelity for VR.

For example, the PS4 typically runs most graphically demanding current-gen games at 30fps, while a good gaming PC can run those games at 60fps or higher. And more powerful PC hardware will continue to come out at a steady pace.

The long and short of it is, the PC will be able to run the more graphically advanced games at the 60fps+ that VR requires. It will also be able to utilize higher resolutions and higher levels of anti-aliasing, which will help give the VR environments more clarity and solidity, leading to greater believability and immersion.

As for games, the PC sees a huge number of exclusives released for it each year. It also shares a lot of exclusives with either the PS4 or Xbox One. The PC isn't remotely close to hurting on games. Honestly, there's no other single platform where you can play the breadth of games the PC offers.

I think VR games will largely mirror that. Most VR games will be multiplatform. The Rift will get some exclusives from Oculus and others due to the PC's open nature as a platform, while Sony will syphon off some of their first party studios to work on VR projects.

I do think the Rift and Vive will offer superior VR (especially over the long term), but they dang well should since they're more expensive VR solutions running on more powerful hardware. What PSVR is offering for the price is nice and it will certainly appeal to a lot of people who wouldn't otherwise get to experience VR this year.