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Aura7541 said:

 ow you mention the other requirements. However, can a $400 PC run graphically intensive games as well as or better than the PSVR? Can I get a PC with the GTX 970 or R9 290 for around the same price as a PS4?

You can get a 400$ PC that destroys the PS4 in hardware. Not to mention the new Pascal/Polaris graphics cards aren't even out yet.

PCPartPicker part list / Price breakdown by merchant

 

CPU: Intel Pentium G3258 3.2GHz Dual-Core Processor  ($65.99 @ SuperBiiz) 

Motherboard: Gigabyte GA-B85M-DS3H-A Micro ATX LGA1150 Motherboard  ($39.99 @ Newegg) 

Memory: Avexir Core Series 8GB (1 x 8GB) DDR3-1600 Memory  ($24.99 @ Newegg) 

Storage: Seagate Barracuda 1TB 3.5" 7200RPM Internal Hard Drive  ($45.89 @ OutletPC) 

Video Card: PowerColor Radeon R9 380 4GB PCS+ Video Card  ($172.99 @ Newegg) 

Case: Thermaltake VL80001W2Z ATX Mid Tower Case  ($24.99 @ Micro Center) 

Power Supply: Thermaltake TR2 500W ATX Power Supply  ($24.99 @ Newegg) 

Total: $399.83

Prices include shipping, taxes, and discounts when available

Generated by PCPartPicker 2016-03-22 19:02 EDT-0400

 

Digital Foundry video with results for the R9 380 4GB: