It's not remotely correct, and I personally think it's what makes people sick.
Our eyes are the viewpoint control, the head is a very coarse grained pivot, but it just controls the boundaries of the viewport. The view is always centered on whatever our eyes are looking at regardless of head position.
You can read a sentence while shaking your and twisting your head. Try that with an oculus (or any other headset).
In fact it's actually very hard to simuluate with your body the kind of sliding view that headsets give. You can do it, but it's hard. I personally have to totally defocus my eyes to stop them from locking on to something as I turn my head.
The minecraft hack that snapped view changes to 15 degree increments is actually much closer to how things work biologically.