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Sony have yet to announce whether PSVR2 will be supported on PC, which introduces the question of whether PSVR2 will compete with any future PC-centric VR headsets. PSVR2 specs are pretty good for the price which may mean Sony will limit PSVR2 for use with PS5 for a spell.It's possible Valve has a new HMD in development, and that likely would mean a new game in development, which means there might be rivalry between them and PSH2.
Even if PSVR2 competes with future VR headsets in the PC space, any future Valve headset is unlikely to compete with PSVR2 on PS5. So why would valve not release VR games on PS5?