Maybe a strong MVP of head-mounted displays would focus on capturing and sharing, be it from Google or anyone else.
I find Project Glass and similar devices rather interesting. Google claims that it decreases the friction of having to "document" and "interact" with tech. If it makes it easier, then won't that just flood social networks? And having these benefits constantly available will be taxing for most users (ie paradox of choice).
What do you think?
The social networks are already pretty good algorithmic filtering -- displaying to users what's relevant and interesting to them -- and they'll likely become better. In fact, if I had to guess whether Facebook was in more need of better content or better filtering at this moment, my guess would be on the content side. (But this is hard to evaluate as a user: how would I ever know if I'm missing great content due to bad filtering?)
What worries me a lot more is the prospect of everyone becoming a walking camera. I can hardly have an honest session of drunk karaoke without someone filming it on their smartphone. I wonder if I'd ever do anything if everyone carried cameras on their head.