"Smart phones are for work and communication. Not for gaming and escape." could've been a credible statement before the iPhone.

I'm not sure if their eventual products will be 'revolutionary' or 'magical' but considering Apple is pretty damn good at displays, creating new input paradigms and they make their own chip, it's possible we'll see something that's way better than everything on the market. It could make us re-think VR devices for non-productivity use cases.

Or, it could just be a failed product. Time will tell.