Valve has announced the Valve Prism
It does not require a PC, so it is competing against the Meta Quest 3
It runs Linux
Hardware Specs:
>5 nm AMD APU
>CPU: Zen 4 4c/8t
>GPU: 16 RDNA 3 CUs
>32 GB LPDDR5 on-board RAM (6400 MT/s quad 32-bit channels)
Display:
>3840x3552 per eye
>90 Hz Display
>5000 nits peak brightness

It also looks to have new tracking features:

>IR-based eye tracking
Foveated rendering in supported games
>50-point lips, jaw, teeth, and tongue tracking
>Inside-out tracking
misc:
>Bluetooth 5.3, Wi-Fi 6E
>850 grams
>SteamOS 3 (Arch-based)
>50Whr battery. 2 hours of gameplay, 4 hours when streaming from PC

https://www.valveprism.com/tech/