TL;DR: Valve launched the Steam Frame VR headset with an Arm-based Snapdragon chip, aiming to run Half-Life: Alyx natively and streamed from PC. The new hardware features a “Frame Verified” status for optimized games, while rumors suggest two upcoming Half-Life titles supporting PC and VR cooperative play.
Seeing as the Quest is their main competitor it’ll have to be less expensive if it’s to gain any traction.
Not necessarily. The quest is a very closed ecosystem. Steam frame being far more open is a huge selling point for them and might attract enough enthusiasts.