Half-Life Alyx is the greatest gaming experience I have ever had the pleasure to witness. I now occasionally VR golf. It's a steep price for a niche with not a lot of games.
Everyone is missing maybe the biggest point - this isn't just a VR device. You can run some/many (depending on your library) of your regular Steam games on a 'flat screen' inside the VR environment, which makes this much more like a SteamDeck with a giant private screen for a lot of people.
My tinfoil-hat take is that Lepton looks like it's just aimed at Facebook but will ultimately make Google's Android less... uniquely impenetrable. Certain hardware-dependent stuff will probably never fully work here (GPS for instance), but having a registry of what is and isn't compatible with a third-party Android derivative, on a specific reference device, will benefit every third-party Android derivative. And not that it won't have similar anticheat issues, but having a games ecosystem outside of Google Play will also cover some of the infrastructure that would require that dependency otherwise -- including payments.
And not that I don't see a net positive if gacha games never successfully make the jump... but as a Linux device there's also a lot of stuff where you just don't have to care about Play Integrity, because instead you can just run the PC version and/or a desktop browser.
(edit: shameless plug for my recent, longer writeup on this @ bhmt.dev/blog/frame)