It shouldn‘t be too cheap - it needs a decent processor, at least the Snapdragon 835. If it achieves a critical minimum processing capacity, you may see a number of Rift ports with simplified graphics which would be great ! Imagine playing some of the real VR games in world-scale. And easy to take with you, vacation, during business travels for boring nights in the hotel, etc..
If they try to meet too low a price point it might end up being too feeble to really take advantage of its set of features.