My 2 cents which is likely totally wrong:
My theory is contingent on two assumptions (again they could be wrong)
1. Tim Cook is looking for a legacy product. His own chance at “one more thing”
2. Apple is currently often behind the innovator. Its goal is to improve and perfect consumer technology; recently rarely leading the charge themselves
I think we are in an interesting “local minimum” of technology. It’s been a while since we have seen a completely groundbreaking product that changes the landscape of the industry. Every tech company is searching for the next product to help grow revenue. LLMs are the current hotness, but previously it was briefly VR thanks to Meta. Apple probably started the process of making the AVP once Zuck pivoted to making Meta a “VR Company”.
Since this was a flash in the pan interest (for anyone other than VR enthusiasts), and Apple had yet to bring a product to market, they had to pivot from entertainment to “productivity” as the main use-case of the device. That’s where “spacial computing” was born. Since Tim Cook was searching for his legacy product, and because the Apple vision pro is legitimately impressive, they decided to move ahead with releasing it despite there being no market fit.
My guess is we never see another version of the AVP and probably never hear about it again. I’m most likely totally wrong, but I wanted to share my prediction.