I am not a welder.

That being said, I'd imagine the active circuitry required to capture and process the images in realtime (or 30fps, in this case) is expensive and bulkier than what's currently used. Processing stereoscopic 2048x2048 HDR streams is no easy task, you'd basically be looking at a VR helmet once you consider where to put battery and compute unit.

It's a cool invention, but probably one of those "analog computer" ideas that's harder to scale/apply than the cheaper alternatives.