Companies have been trying to make AR/VR the next platform shift but I'm not super convinced that people actually want or desire this outside of a few niche games. To me it feels like it has about as much staying power as 3D glasses in movies.
Making VR a viable new entertainment channel promises selling a headset to 85% of the broad consumer market, then trying to own the content shops for it in perpetuity. It's the trillion-dollar new market that the investor class clamours for.
Making AR work is a much shallower lift -- you usually aren't dealing with the same issues of nausea, massive movement tracking and room management, and high performance immersivity. But you're going to only sell it as largely islandified turnkey systems-- each customer is going to buy a few hundred or thousand headsets and a bespoke software package for it.
As far as replacing your smartphone with AR glasses that remains to be seen
We will just have an AI that will do everything, we just ask. "Book a flight, order a pizza and reply to my emails" boom, done.
If we're comparing to 3d glasses for movies like the parent comment said then that is a huge difference. samsung is releasing an android headset this year this long into VR which they didn't do for 3dtv. this generation of VR has already lasted longer than 3D-tv 6 years.
There are space requirements for base stations, but it can be played for many hours in a chair or in bed. Not every experience requires a large room. Newer headsets are self-tracked so that's already been solved by new tech.
The bigscreen beyond 2 is 107g and can be worn for hours. Struggling to see how portability and versatility won't improve with new tech.