Basically an updated oculus rift head set same panel as the oculus go giving a bit more resolution and lcd instead of oled to give more subpixels and mitigate the screen door effect. Improved lenses and inside out tracking with 5 onboard cameras (the oculus quest the stand alone vr thing has 4) basically the same controllers. The same sound pipe design for audio that the go uses and now the head strap is a halo type design akin to the PSVR which is my favourite of the strap designs I've tried. Hooks up to the pc via a displayport and single usb3 connector.
Out in spring price is $399