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Renewed and refurbished are most likely the same thing. The oculus I purchased was a refurbished/renewed item and I haven't had any issues. This is the 3rd time I've purchased a video game unit that was refurbished/renewed and honestly I feel better about these. It's like they had more attention paid to them. I'm not sure how that works but like I said they're repackaged like a new item and I've had no problems and it's definitely worth the price difference. Metaquest vs oculus is just because of the company's name change. Hope this helps
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