I'd be surprised if Magic Leap was actually able to solve both of these problems in secret separated from the rest of the world.
Secrecy - for this long seems bad. It's also not the Apple secrecy where you say nothing and then have a big reveal. Magic Leap has put out teaser trailers with no information and talked about their 'revolutionary' technology without details. That doesn't inspire confidence.
I am surprised they're able to raise so much money though, but that's a mistake that's been made before.
http://blogs.valvesoftware.com/abrash/why-you-wont-see-hard-...