The veneer of innovation over the monopolies of the FAANG companies is pretty thin on most days, but VR and AR are two things that cause my suspension of disbelief to collapse entirely. Can I get up to pee while "immersed" in VR? Can I find my popcorn? Does anybody realize that the AR demos online are showing phone screens, and not the reality that you will see without a screen in front of you? (On some level, on that last, they do. But the hype seems built upon an off-by-one error in representation.)
We are no longer in an age of innovation and disruption with regard to the Internet. It has been thoroughly colonized, and any innovation will be bought by one of the big fish, in order to prevent the disruption of fairly lucrative relative monopolies that face no, or only the most glacial, threats from commoditization. VR is not it. AR is not it. From here on out, it's ML to try to improve on k-nearest-neighbor with k==1 to drive recommendation engines.
Much like the Moon Program propaganda informs outmoded (what I regret to call) virtue signaling around STEM, propaganda from the era of the rise of the FAANG group drives the same among ink-spillers around The Next Big Disruptive Innovation.
Here's a hint: Whatever the next disruptive thing is, it's not going to come to you via TechCrunch relaying Andreesen's ravings about which thing is bigger than what. If it happens at all. It's entirely possible that nothing will rise from the ashes of Facebook, for example.