If they do this I will officially join the "Tim Cook doesn't know what he's doing." crowd.
If they can make the augmented areas fully opaque, as opposed to translucent, I might be sold. Otherwise, a lot of use-cases will actually be pretty annoying.
The idea of ghost-like knick-knacks covering my field of view isn't very appealing. It reminds me of pop-up windows, only for real life.
Plus it aligns with Apple's message/direction.
AR = gaming "nerds" VR = "real" people
Apple has always targeted "real" people. It's very similar to Android vs. iPhone, where Android is preferred by people who like more control to tinker with their phones ("nerds") vs. iPhone users who want an integrated out of the box working solution.