In context: One of the main reasons the VR industry hasn't become more popular is its high barrier to entry. Previously, you needed a high-end PC and a full, almost-$1000 VR kit to get the best experience. Naturally, those weren't things most people, even many PC enthusiasts, were willing to shell out their hard-earned money for.
However, things have changed quite a bit over the past year or two. There are still pricey, high-end VR headsets out there, but there's also plenty of more affordable alternatives. The $200 Oculus Go was already a great example of that, but it just became an even better one today.
Now, Oculus Go aims to bring entry-level VR to a greater portion of the mass market with a $50 price cut. From here on out, the Oculus Go can be had for just $150, which is a pretty decent deal.
That price gets you a per-eye lens resolution of 1440x1280p and 32GB of onboard RAM, which can be upgraded to 64GB for an extra $50. Obviously, those specs aren't the most impressive in the world, but for the money, they'll probably be perfectly adequate for most casual users.
We should note, however, that the Go doesn't feature the same hand-tracking functionality as other, pricier VR headsets. It can only sync with a single controller (included in the box), so you won't be able to use two hands at once in your favorite VR experiences. Still, at this price point, it's difficult to complain about that too much.
Like the Go, it's completely standalone (you need no exterior trackers), but it has better specs, and it ships with two controllers instead of one. Overall, it should look better, feel better, and offer more gameplay possibilities.