While Oculus surely shouldn't have used ZeniMax's stuff in their demo, and should definitely pay some kind of damages for it, it seems like a small part of what's at play.

Or is it supposed to show how fast-and-loose Oculus was with other people's stuff?

Edit At least reading through the rest, and taking ZeniMax at their word, it looks like ZeniMax has a credible claim that it's their software that got the Rift working. But if true, it feels like there should be some discrete evidence of that by looking at what's running on the Rift.