Nope, that's not what they were saying. They did say that they'd eventually cut out the store for people on legacy Oculus accounts, but your headset would still be perfectly usable; you'd still be able to load .apks in like you can now, you'd still be able to use it with a computer, and it would still more or less work just fine, as long as you weren't depending on Oculus functionality beforehand.
It'd be more like a Wii without Nintendo Wi-Fi Connection. It really won't be that different unless you're dependent on their online services.
However, eventually they'll be getting rid of the avenues to make a new account without a Facebook account like they've already slowly been doing. Which is a bad move, but while the avenues are available they might as well be taken.