Is this really a game-changer? Technology adoption is all about tradeoffs. We already have location-based services and applications that are granular enough for most purposes. AR applications add sensory awareness and localized interaction at the cost of distraction and intrusiveness.
History is littered with inventions that were supposed to be the next telephone, computer, smartphone, etc., but most of them never materialize because they don't meet people's practical needs. And if AR/VR isn't the quintessential solution in search of a problem, I don't know what is.