After Oculus co-founder Brendan Iribe left the company late last year, TechCrunch reported a shift in strategy from developing a "Rift 2" to a more lightly-refreshed "Rift S" VR headset. Now UploadVR cites code found in the Oculus PC software referencing the new device and giving some hints of its capabilities. A "lighting frequency for Rift S cameras to adjust to room lighting" toggle suggests built-in tracking cameras, while a software setting to adjust "IPD (Interpupillary Distance)" shows it will drop the original Rift's hardware IPD adjustment.
Not surprisingly, it seems to have some things in common with the standalone Oculus Quest. Even if it doesn't follow the original Rift's path in pushing the envelope and showing people the cutting edge of what VR experiences can be, a simpler setup that's slightly more accessible is closer to what the company's owners at Facebook have in mind.