With the current pace of VR, the Quest 1 already feels extremely outdated. I'm not surprised that they are dropping support for it, especially when the Quest 2 and 3 have all but replaced it
The headline still is complete ragebait. The product still functions. They are just not adding any new releases. It happens to every console, and the Quest 1 was a shortlived, but necessary stepping stone to get to where we are today.