The only catch is that the patch still requires Oculus runtimes to be running in the background on your computer. Users who tried it report Revive works fine and delivers smooth performance.
Oculus founder Palmer Luckey has publicly stated that "we can only extend our SDK to work with other headsets if the manufacturer allows us to do so," seemingly passing the buck to HTC and Valve in regards to why its Oculus Store games don't natively support the other leading PC headset. Valve has denied this assertion. Either way, we no longer have to wait for the companies to settle their legal and licensing differences, thanks to the efforts of the LibreVR plug-in, dubbed Revive. Source: ARS Technica