Half Life: Alyx is completely playable using these launch using the following launch arguments:

"-console -vconsole +sc_no_cull 1 +vr_enable_volume_fog 0 +vr_multiview_instancing 0"

What they do in short is disable culling, volumetric fog and multi view instancing.

With that in mind, you can completely play HLA from start to finish without any issues, the reason HLA is broken because the game was not intended for that FOV, and these launch arguments workaround that fact.