Ever since Patch 01.000.300 the game's performance has been ♥♥♥♥. I was running the game on 80+ FPS @4K with an RTX 4090 and a Ryzen 5800X. Since that patch I get maybe 50-60 FPS which is ♥♥♥♥♥♥♥♥. The game became CPU-bound with one update and never recovered.

Update:
The Jello-like feeling was caused by engine lag when maxing out the graphics. Had a similar thing with Beat Saber when maxing out anti aliasing (8xMSAA). And no, it wasn't the FPS. I used fpsVR to monitor the performance.

So, yea. It's playable now.

It just work but in contrast to Bethesda, it actually does :D

Welcome to Steam, where people voice their opinions and you don't get to hide them. In all seriousness though, don't flame the devs, it's not their fault they have to cope with ♥♥♥♥♥♥ upper management. I'm sure most of them were thrilled to develop what was promised and got burned just as hard if not even harder than the players. They spent years of their life pouring blood, sweat and tears into code/systems that will now likely never see the light of day.