According to a new report over at TechCrunch, Facebook has decided to restructure its virtual-reality projects and PC VR division with the assumed-to-be in-development Oculus Rift 2 getting cancelled. The shake-up has also led to co-founder and former Oculus CEO Brendan Iribe leaving Facebook.

According to sources the shift towards a mass-market approach in terms of performance for the Oculus brand - as seen with the release of the smart-phone powered Oculus Go and the planned release of Oculus Quest next year - was not the direction Iribe wanted to see the company go. Apparently the high-performance Oculus Rift 2 was something his team was working on and its cancellation might be the reason Iribe left Facebook.

Although his farewell post on Facebook was mostly positive and a celebration of the work accomplished by the Oculus team it specifically mentions the Rift and Touch with no mention of the Go or less-expensive mass-market VR products. Iribe was the head of Facebook's PC VR division. In responding to the report, Facebook kept things vague with, "While we can’t comment on our product roadmap specifics, we do have future plans, and can confirm that we are planning for a future version of Rift."

If the Oculus Rift 2 has been cancelled that would position the HTC Vive as the premiere and just about only choice for high-end VR for PC.