Originaly this was Palmers "dream" and since he was motivated to make something great people back him up with their cash.
Facebook does things for profit.
Whenether it will be good or not remains to be seen, but I aint gonna be holding my breath anymore for this.
I am greatly dissapointed by Palmer (who basicly cashed in on the money of others), who probably dosent control the damn thing anymore.
Its kinda like Dragon age 2 and mass effect 3. WHo cares that Bioware makes the game when EA is calling the shots?
So, will facebook ruin VR? Well, considering its a company that is based on ads (to be frank, facebook only has money as long as its popular, it dosent actually has a real value) I cant say I see a bright future.