According to the Oculus founder and Rift inventor Palmer Luckey, Oculus Rift 2 was cancelled just before production by Facebook. Revealed in a tweet that commented on an UploadVR post about Oculus Rift S stock not being replenished, Luckey said, "What a bummer. Imagining a world where Rift 2 was not cancelled shortly before going into production and then cancelled again in favor of a much lower spec Lenovo rebadge..."
Considering the success that the Oculus Quest 2 has achieved over the past few months (it is now sold more units than every other Oculus headset combined), it's not a huge surprise that Facebook is looking to head in a different direction from PC-only VR headsets. Still, with there being a market for the more advanced VR experience, something that the Quest 2 cannot quite offer, it is disappointing to hear that the Rift 2 was almost produced and cancelled at the last moment.
Thanks, UploadVR.