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Honestly, I think the Oculus will launch at $399, and be sold at a loss, because Facebook wants to increase the number of users it has.

I also think that PS VR will be sold for $399.

People seem to forget that Sony had a few "head mounted display" models (model HMZ-T1, -T2 and -T3) that sold for $800 or more ($1,300 for the T3) not too long ago. I doubt Sony wants to sell PS VR at a big loss.

PS VR is great for a single person who lives in a small apartment and doesn't have a big TV or doesn't have room for a big TV. With the headset, you will feel like you are looking at a big screen TV, and you won't actually need a TV at all. $399 for PS VR is quite cheap when compared to buying a 65" TV.

Personally, I don't fall into that category, so unless there is a killer app (something like Star Citizen for PS4 maybe?), I cannot justify the investment.