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I don't think its a ridiculous stance to assume but here are some MAJOR ways in which its different:

Oculus and Morpheus fulfil different niches to some extent, Oculus does not currently work with the most popular gaming device out and I don't think it will anytime soon if the most MS can get out of it regarding Xbox One is streaming which essentially is not VR. Vice versa there is a hardcore PC crowd and Oculus will be their go to.

HD-DVD was not bought by facebook moments before its commercial release, they have long term plans.
VR doesn't begin and end with Oculus and Morpheus, it will be a multigenerational effort, unlike HD-DVD/Bluray which were are probably the last introduction of "next gen" discs/entertainment storage media we will see for another 10+ years. We may get updated bluray disc but I suspect nothing more.