Well, at least he held his hands up and apologized. You don't get that much these days. He also explained himself, rather than make excuses, and for that I tip my hat. Especially doing it head on at Reddit where he knew he would be facing both barrels.
Personally I think they are doing the right thing, to get the whole VR thing rolling. Releasing a half ass product with cheaper components could have been done, but with an almost certain guarantee that VR would not take hold, much like 3D in gaming.
They needed to make the best Rift they could, and not make a profit on it (enabled by the huge money injection from Facebook), unlike Sony who can make a loss on their product as they know they will make it back in software. This has long been Sony's strategy. Oculus can't afford to do that and have made the best VR experience available with the tech we have today, and have priced it accordingly. I can't wait to see how it all pans out
I am looking forward to the wireless version too, I don't like wires at all (hate it in fact) but understand we aren't quite there with VR. It will come though so I'm happy to wait.