I am not aware of the VR space, but reading this article seems like this is truly a giant leap from all existing hardwares? Edit: Maybe I commented too early.
The VR space really depends on the content made for the space. Right now you've got two major "marketplaces". One being the Oculus store by Meta and the other being Steam. Other lesser known headsets have their own marketplaces too but the content is filled with crappy demos and just mobile phone quality games.
A big factor in the content quality is the ability for headsets to run standalone or not. Meta seems to be really pushing the standalone aspect where many of their marketplace games need to run on the standalone headset. Being a mobile chip, the performance isn't at all AAA quality. Not only that but a lot of content still is just crappy mobile phone-esque games and VR demos.
Steam on the other hand has many VR games and they're all running on your computer and the video signal is being sent to the headset so it acts as just a display. This gives developers more "power" to work with when creating games and many games on steam VR are really good because of that.
Now the question for this new Apple headset is, can it hook up wired or wireless to my computer (PC please due to game library) and just act as a dumb but beautiful display? If not, can it do that on a mac? If not, what content CAN I consume? Can games be played?