There is a discussion going on Twitter about Oculus. John Carmack shares his views over the possibilities of upcoming 120Hz support on Oculus. Although Carmack halted about any such device, the recent updates to Oculus 2 says a different story.
The recent update to the Oculus 2 brought support for 90Hz for all apps and games on the VR glass. But there is not much of a details about a new version of the VR glasses. Also there is some caveats to the new update as well. Carmack mentions a note in his tweet.
Also, higher refresh rates do remove the motion sickness for many people. The tweet is also meant for those devs who have set the unlimited framerates for their apps and games. Carmack warns users that setting up higher framerates can lead to poor performance if the app isn’t designed to run on higher frame rates.
Source: Android Central