The Samsung HMD and the Oculus HMD will be pretty similar. Even the DK2 is literally a note3:I'm starting to wonder if the Samsung version is going to be the better bet then the Oculus. You already have the phone so you can in theory have a much more expensive product with better specs for cheaper then the Oculus.
Oculus Rift Development Kit 2 Teardown - iFixit
From what I can tell the big differences are that Samsung's HMD will probably be a box you can drop your existing Samsung(tm) mobile device in that has lenses and maybe some other features. The IMU, display, software and renderer will all be contained within the device itself. Meanwhile the Oculus HMD will be an independent system with a display, IMU, lenses and HDMI/DisplayPort input. It will additionally have some form of positional tracking (probably via the same IR leds in the DK2. They might do something different if they can get it to work, but I'm thinking they'll stick with the leds and possible have a bunch on the head straps).
These are two very different products: One is an addition to their smartphone feature set (made possible only by the world class display Samsung has). The other is basically a PC peripheral. There's no reason to expect that the integrated GPU + whatever IMU they use + the cases/lenses would be able to beat Oculus' system that uses a custom IMU, more strict case/lenses, positional tracking + all the power in your desktop PC.
It's possible Samsung will attempt to compete with Rift and offer a device that can take PC input, but I don't think they will. That possibly depends on how much of a market Oculus creates in the next five years and how their partnership holds up with Samsung. Right now it's possible they're sharing profit in addition to technology and Samsung is able to cheaply leverage it's fantastic displays for loads of cash. I actually think in ten years time the number of VRBoxes made to put your smartphone in could outsell the number of PC-periphial HMD's ten to one. Having an HMD to play AAA games with is pretty compelling for our kind of market, but having an HMD to live in a virtual world is compelling to many people with a smartphone.
And I don't want to be that guy, Column, but getting one of the first Developer Kit 2s and then complaining that there's little content for it seems a little self-destructive.