Sony released their PlayStation VR2 headset on February 22. It features a 2000 x 2040 pixels- per-eye resolution, a maximum of 120 Hz refresh rate, and a 550 dollar price tag. The Meta Quest 2, in comparison, has a 1832 x 1920 pixels- per-eye resolution, and has an official price of 400 dollars. It is also a standalone device and can operate independent of a PC or console. The Valve Index is also a strong contender, featuring a 120Hz, 1440 x 1600 display per eye and costs 1000 dollars.
The PlayStation VR2 headset seems to be a pretty good deal when you consider its asking price and specs, but one caveat that consumers should be informed about is that it ˇ°will only work with PlayStation 5 Consolesˇ±, whereas its competitors can either operate independently or be plugged into a PC, or both.
Being a console-exclusive product, there are also much fewer support titles for the PlayStation VR2. VR gaming as a whole is already a relatively niche segment of the gaming market, and the PlayStation VR2 seems to be targeting an even smaller portion of that market.
Sources:
https://store.steampowered.com/valveindex
https://www.playstation.com/en-us/ps-vr2/ps-vr2-tech-specs/
https://www.valvesoftware.com/en/index/headset
https://direct.playstation.com/en-us/consoles/console/playstationvr2-horizon-call-of-the-mountain-bundle.1000035073