I would be fine with them not doing that. I canceled my Oculus pre-order and ordered a Vive instead when they started doing that, even though it meant an inability to play the locked-down games. I have 0 interest in having a part of my game library being locked into a DRM'd hardware ecosystem, where my games stop working if I want to buy a different brand of second gen hardware.

Also, in return, they get more hardware sales and a more vibrant VR ecosystem, so they don't get nothing. One alternative is to set up a joint VR development fund with Valve. It sounds like Valve is doing this on their own, without exclusivity requirements.