Is it just me or HoloLens sounds a bit like a Hooli product?
All jokes aside, given that the rendering quality improves, this could have interesting applications for scientists researching facial and body expressions in certain environments. It would enable them to replay scenes and emotions which current 2D/3D video fails to capture, especially because it allows you to change your viewpoint.
I doubt this will be a game changer for teleconferencing, mainly due to the oversized device you have to wear, but then again all these gadgets tend to look a bit creepy in their initial phases (e.g. the Google Glass prototype).