When new hardware comes out, especially iterative hardware, the question is whether that new piece of tech will be able to run games from the previous generation. It is something that each company handles in their own way. PS4 wasn't compatible with PS3 games (though PS5 is with PS4 games), Nintendo doesn't usually care for any kind of backwards compatibility these days, and Xbox did what it could for the concept during the Xbox One era. Now that the doors have (sort of) been blown open on Sony's next iteration of VR, entitled PlayStation VR 2, the question on the minds of owners of the previous gen is, "Will it play the old games?" Unfortunately, Sony doesn't have an answer on that front quite yet.
Backward compatibility is an interesting topic for something like PlayStation VR as, on the surface, one would assume it would be easy to implement on a successive iteration of the hardware. As it stands, however, PSVR2 is using decidedly different technology as the headset will utilize inside-out tracking to detect its new controllers. The original headset employed a standalone camera and the PS Move wands which will seemingly make new controller configurations for the PSVR2 difficult. The new controllers for PSVR2 are vastly different to the PS Move wands in various ways and it is likely Sony may not want to put resources towards making old games work with the new control scheme.
Journalist Stephen Totilo reacehed out to a Sony representative and asked if the company had any plans for backwards compatibility with original PSVR titles, along with asking if the hardware would be out by the end of 2022. Sony PR answered that the company had "nothing further to announce at the moment" with regards to the questions asked. It's hard to say either way what Sony will decide on this front, but owners of previous VR hardware should be braced for a console that will not be playing their old VR titles.
As of January 2020, 5 million units of PSVR have been sold, and while some of those 5 million owners may not make the jump to PSVR2, many still will. No backward compatibility would certainly be a blow to the fanbase that supported the device and helped to bring a PSVR2 into existence. It's hard to believe Sony wouldn't implement it, but for now, it will be a question hanging over the new device.
Along with Sony's information on PSVR2 came a look at a new VR-exclusive title in the Horizon universe titled Horizon Call of the Mountain, that will be co-developed by Guerrilla Games and Firesprite Games, the latter of which was just recently purchased by Sony. No release date for the game or hardware has been given.