It can run visuals similar to the ps3 and xbox 360 as described in this link. There aren't that many incredible-looking titles requiring, say, a GTX 2080.
There's also a FPS drop from 90 to 72 which might affect nausea in more agitated games, hence why I said it's better for more casual experiences. No running and gunning! Or teleporting and gunning, in this case.
It's pretty good stuff for it's price. A bazillion times better than the Rift prototypes, too. I had the first one. It was amazing by itself and this is a huge step up from the second prototype! I believe the Quest is more than worth it's price if you can't afford a GTX 1060 computer.
I guess I'll have to wait a bit more before jumping into the VR world then. I already have a somewhat good gaming PC capable of running VR games but I really don't want to use it for VR. I want my VR headset to be wireless and not relying on external hardware. Plus I don't have enough space in my bedroom for a wired VR setup. The Oculus Quest is definitely a step in the right direction in my opinion, give it a few years and its latest iteration will be amazing for all kinds of games, not only casual experiences.
VIVE Wireless Adapter
Rift Wireless Adapter
Game on.