>>355857492
You can, on reasonably middle of the road hardware, you just have to reduce the render resolution due to material interactions and make a couple of tweaks. The game falls back a lot better now than it used to and with fallback avatars it's a lot better. 

You may notice that when you're in SteamVR dashboard, you actually jump right back up to full frames, even though everyone is moving around and processing all the same. Once you see it, you can't unsee it and it's really frustrating. 

This might be due to a bug with unity and the way it processes high resolution materials. 

The VRChat config.json file helps a lot.
https://docs.vrchat.com/docs/configuration-file#configuration-file-location
Turn dynamic bones off completely. (set the maximum shown to something tiny, and then turn on safety settings) 
Remember that the actual per eye resolution of the Valve Index is 1600 wide by 1900 high. To deal with distortion in the compositor, "100%" is actually something like 140%, and it will set an arbitrary value based on your gpu. VRChat is a unique beast, and dealing with a lower resolution actually severely impacts framerates due to how hard the cpu has to work to set up each frame thanks to shaders and whatnot. Essentially, you want to reduce the resolution until you're no longer overloading the fill rate of the bus.
In Nvidia control panel, set the texture filtering to "high performance" and make sure it's set to "prefer maximum performance" under power. 
Minimize the client window when the game is running.
Optional: Turn off all MSAA in VRChat. 
When you're in the event itself, turn off XS overlay. It actually uses a fair bit of cpu. 
In steamvr settings:
Turn off motion smoothing. 
In the Advanced "Video" tab, click per application settings. 
Turn on "framerate limiting" so that the cpu isn't overworking. 
Optional: Set the framerate to 90hz. This doesn't always help, so feel free to go to 144 so 1x reprojection is 75hz.