I'm going to risk some downvotes from Oculus fans, but I'm being honest here: I don't think Oculus can compete with this experience, unless they price significantly lower.

Eh, also risking downvotes here but this subreddit is a bubble and I doubt the Vive's popularity here is going to carry over to the general gaming public when VR takes off. If this subreddit were to determine the winner of the "VR wars", the Vive would take the cake and the most popular experience for it would be Hatsune Miku licking a lamp post or something. 

That said, Oculus isn't trying to compete with the Vive in terms of tracking volume/room scale support or controllers at launch. They've determined that the majority of people don't have the space to house a large tracking volume dedicated to VR and therefore have designed their experiences around being in a fixed space (seated or standing) with a mid-sized tracking volume to move around in for those that want to do so. If the gap in price between the two HMDs is a few hundred dollars, then the majority of people (excluding VR enthusiasts and power users) are going to go with the Rift because Oculus is doubling down on software and advertising in a way that Valve isn't. Even if the prices are similar, Oculus runs circles around Valve in terms of advertising and content (we don't even know when the Vive is coming out and it's supposed to be released next month, ffs). 

I actually have a dedicated VR room larger than 15x15 and I can afford a Vive, yet I'm still leaning towards the Rift because I think it's going to have a lot more content (especially in the beginning). If I do get a Vive/Lighthouse system, it will be after I get a Rift. Frankly, I'm more excited about the Oculus Store and content library than I am Valve's (with PSVR being in second place). The Vive might have better hardware capable of providing a better experience, but historically speaking it isn't the platform with the best hardware that wins, it's the platform that gets into the hands of the most people and so far Oculus is hands down running in circles around Valve in this department. Case in point: I know of dozens upon dozens of Oculus exclusive games and other content, yet most of the interesting Vive exclusive content I can think of is probably coming to Oculus eventually anyway (like Hover Junkers and Arizona Sunrise). I wish there were no exclusives (in which case I would be leaning towards the Vive), but you know, Capitalism 'n stuff.  

Anyway, Valve is positioning the Vive to be a niche device for power users. It is better in a lot of ways and it will probably be favoured by certain industries for practical applications over the Rift in the same way that Apple computers are favoured by many industries, but for the average person the Rift is going to be the more appealing VR HMD because it will appear to be more user friendly, it will be more mainstream and it will have more content. Hell, I don't even know why I'm using future tense here, I work in the games industry (in a Silicon Valley-type area outside the US) and while I'm seeing and hearing about the Oculus Rift on a daily basis, I haven't met anyone so far who is familiar with the Vive yet. I think Oculus has already secured the larger audience already.