That’s assuming it’s physically large. As it gets smaller, it becomes more of a general purpose AR device that can overlay any context, information, or visual transformation onto your environment and allow physical-digital interaction and social experiences. First gen should in theory be that too, but in practice if it does look too big then people won’t use it in that manner as much as they use it as a panoramic monitor. Nonetheless it will start the flywheel of AR development and technology in the Apple ecosystem to lay the groundwork for mass adoption.
Apple can also use AR to lure people away from Windows and PCs, since the glasses presumably can be used as a souped up Mac. But since Apple is an ecosystem provider, they need to have world class AI in-house, if not now then at some point (otherwise competitor’s AR devices will be more feature complete in an important way). That’s not impossible given Apple’s cash pile, but it is something they’ll need to develop new capabilities around and dedicate resources to.