Is VirtualLink Dead? Valve's recent cancellation may say so

Valve corp, yep the same one that brought you Steam, has canceled their VirtualLink adapter.

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VirtualLink is a USB-C connection which can carry power, DisplayPort, and data all through a single interface and was touted as the potential next step for VR.

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Valve made an adapter for its new Index headset which was to be the first step in adoption for VR HMD's and VirtualLink. But as of a few days ago, Valve pulled the plug on the adapter stating 'lack of adoption.'

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I do find this a bit disheartening as all RTX based GPUs have a VirtualLink port integrated. While it still works as a Type-C interface or a high-speed phone charger. A single cable VR solution would be a considerable step toward cleaning up the cable clutter that plagues VR options presently.

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Here is the message one Reddit user (Willp147 received from Valve regarding his order.

What do you think about this? Is it a knee jerk move by Valve and Virtualink will survive? Or, do you think something else will come soon?