I already have a post in this thread about this. Resolution by itself is meaningless. It's all about context. And in this context, you need to measure resolution by FOV degree. In that sense, it'll have half the pixel density per degree of the Sony HMZ-T1 (which many, myself included, can still clearly see pixel structure on). A 1080p screen will make a big improvement, but it's still going to have fairly large pixel structure. I think Abrash did the calculations and said something like 4k screen are what you'd ideally want.
Just something people are going to have to get used to and accept. 1080p and better latency tracking still make the retail product exciting (even if it will just be the first step in the process).