back from the dead
one thing I didn't see mentioned is PSVR2 resolution vs 4K resolution.
If you get the right sized screen (screen size and screen distance from viewer), you can really get the equivalent of 20/20 vision on the screen. You can see objects in the distance fairly clearly - and for replays, a screen will look a lot better than PSVR2 with its limited screen resolution (see below). Most people chose the bumper cam, which is great for racing, but completely obscures the car on which the bumper cam is mounted.
With PSVR2, the best you'll get is something like 60/20 vision - this is because the headset displays about 19 lines per degree (think 2040 lines in a110 degree field of view) , whereas your eyes can discern as about 60 lines per degree. What this means, is that things in the distance will look a little fuzzy - for me, it feels like I need to put on my glasses, despite having corrective lenses on my PSVR2 headset. Apexes in the distance look a little fuzzy, cars in the distance look a bit fuzzy.
That being said, I love PSVR2, and can't wait for a 4000 lines of resolution at some point in the future.
As others stated, the 3D feel you get from PSVR2 can't be matched by a monitor. When you drive a track, you really feel like you're there - Mt. Fuji in the distance, Castles along the Nurb, the elevation change through Eau Rouge at Spa. Driving open cockpit cars and convertibles is amazing - as someone stated, the Xbow is incredible with its coil-over suspension in your field of view as you're driving through twists, turns and rumble strips. At first I didn't like that each car had a different tach/shift lights (some don't even have a tach) and I had to get used to each car individually. But in a way it gives each car its own character, and you end up liking some cars more than others just through the design of the gauge cluster ...and some of them are freaking works of art!
My current use model is: I race in PSVR2, and look at replays on a 4K HDR monitor. I'm doing GTWS and I feel like I am more consistent and can place the car more accurately with PSVR2 than I could when I raced with a monitor alone. I do miss the race status information: How far am I behind the leader? NFI! How far is the guy behind me? NFI! But on the other hand, I'm focused purely on the race, car placement, taking every turn without mistakes and I'm not glancing at numbers to tell me information that's not going to make a material difference in the race - especially if I'm distracted by them. IRL I do autocross which emphasizes driving precision, and I also feel that those skills help me in GT7 with PSVR2.
Bottom line: today there is a tradeoff in visual fidelity between a 4K HDR monitor and PSVR2 - But PSVR2 provides unmatched realism and presence. Perhaps a future version of PSVR will significantly close the gap.