Absolutely not. The most advanced headsets on the market require a tether. And, to make matters worse, outside-in lighthouse-style tracking. Valve Index, Vive Cosmos Elite, even the Rift S. The Quest is literally the only headset capable of operating fully untethered; its possible to set up wireless tethers on most headsets, its just more expensive, and it still requires a PC.
The Quest does two things that are interesting, and rather unique from a full market perspective; local rendering, and inside-out tracking.
Local rendering is probably the future for VR platforms. Unfortunately, there's really only one company on the planet with a mobile SoC design capable of driving the performance necessary for truly current-generation VR experiences, and that company is not interested in sharing their technology (Apple). The Quest, with its android smartphone-class specs, is not, in my mind, a current-gen VR headset from a performance perspective. It has other (huge!) advantages which make it an awesome purchase (generally, the best purchase for most people), but performance is not one of them.
I think the jury is still out on inside-out tracking. It may approach a level where it is good enough for most use-cases, while still being worse than outside-in tracking is today. Arguably, its there today. Fundamentally, if your environment is dark, or lacks the many visual intelligence landmarks necessary for the AI to operate, its going to struggle, not to even mention the challenges it has in tracking hand positions behind your back (which is very common in FPS-type games, where you often reach into your backpack to grab more ammo).
Plus, the local rendering, the inside-out tracking, and internal battery, all add weight to the headset, which already cheaps out on the circumcranial support straps to properly distribute weight (many people swap their Quest straps with, say, those from a Rift S or even an Index/Vive, because they're so much better). The Quest is both one of the most and least advanced headsets on the market.