A $550 video card on top of the price of the device itself? If that is the case, I'm going to have to wait for a device to come out like Hololens that can stand on its own.
Then again, if you already have a decent GPU you can still do quite a bit. When I got my DK2 it ran many things just fine on an older GPU. I only upgraded to a GTX980 because I hadn't splurged on anything in a while and it helped a lot with un-optimized, demanding programs like Elite: Dangerous. I could have kept using my existing card if I just wanted to mess with less demanding content or make stuff in UE4.
Don't make it sound like Oculus is more expensive than what gamer already have to pay to get the best experience.
That being said, I'm sure you could play games on the lowest setting without the need for $1000 worth of GPU.