To put it simply, you won't need an i5-4590 processor and GTX 970 to watch VR videos or play Minecraft. At the same time, Oculus has stated that those parts are necessary for the headset.
So is Oculus just going to ignore the fact that low-end users without the recommended specifications could still enjoy lots of VR content? Are they going to just pretend like you need a $1000 PC to even get in at the ground level?
I had imagined that they would start an Oculus App Store, and give a rating to games/apps based on necessary hardware requirements. Something like Silver, Gold, and Platinum. Silver games run on integrated desktop/laptop hardware, Gold games run on dedicated mid-range videocards, Platinum games run on high-end videocards like the 970. It seems like they gave up on offering software in tiers, and just said "Fuck it, everybody with an Oculus needs to have a $350 videocard."
In the early days it will probably follow traditional gaming. If you have a dope PC you get a better visual, except now framerates are more important than ever so a good PC will give you more headroom to do stuff that might not be possible on a PS4. I imagine there will be a decent amount of overlap so devs that want to try their hand at VR will want to maximize their efforts by releasing on PS4 and PC, with the PC getting a better version. It will leave out a lot of customers but that's what they decided to do in order to not put out what they deem a subpar VR showing. I'm glad that they seem to be looking at presenting VR in a positive light. GearVR and Morph will keep the masses happy, Rift and Vive will be there for the premium sector. It's all good.