It's the same type of processor, the new one is more powerful and specialized. What will probably happen is titles going forward will have both headsets in mind and scale back the graphics for the old one. As for oculus supporting it I don't think it will drop off completely right away, just not as many frequent updates.
Of course this is all speculation. As nalex said, we'll hopefully hear about support on Wednesday.
Quest 1, i5-8600K at 4.7 GHz, eVGA 1080 ti FTW3, Gigabyte Z370 AORUS Ultra Gaming, 16 GB 3200 MHz
The Rift CV1 discontinued in 2019 is still supported by Oculus Rift software. So why would the Quest (1) not continue to be supported for some time? I think it will be. There aren’t any games on the Rift platform that only run on the Rift S and not the Rift are there?
Since the Q2 is lighter than the Q1, and can "be worn for longer periods of time," I'm sure the Q1 will find an appropriate use in the Dungeon Room of The Green Door in Las Vegas 🙂
From a developer point of view Ignoring the Quest 1 would be a stupid move ( and they know it ) They may sell a handful of Quest 2 only games but thousands of Quest 1's. Being compatible with both is icing on the cake for them.