From the demos shown it doesn’t look badly compromised for being a first generation product.
I think it could be a great computer for traveling, especially the idea of being able to have a multiple monitor-like setup on the go without dealing with setting up a bunch of equipment.
Computing on airplanes would be so much better than struggling with a laptop on a tray table, and you could sit back and relax to watch movies rather than being hunched over a phone/tablet/IFE.
The “watching content while doing chores at home” that influencers have been showing off with the Quest 3 seems pretty nice.
I don’t buy into the idea that a device like this will replace smartphones or computers as our primary computing devices even when the technology gets far better, but it definitely has a place.