It seems to be a normal VR headset with high resolution, good pass-through cameras (for seeing your environment), an external screen, hand tracking (of unknown fidelity) and Apple-quality software and UI. I wouldn't say that's "nothing like" other VR headsets, because there are other headsets that have some of those features, but I recognize that's pretty subjective.

IIRC the existing headsets with really good pass-through are actually similarly expensive.