So no VR, given the price and lack of developer support, and late arrival into AI.
They do have the mobile phone market duopoly advantage though, far from the 90's mistakes that almost closed shop.
You want to have your own pathway to production that dodges competitors’ patents, is somewhat defensible itself, maybe a brand, etc.
Apple would have had a much stronger position (for much cheaper) if they supported OpenXR and obsoleted the Windows Mixed Reality/Quest/Hololens brand for good. As a "15 competing standards" platform, visionOS is a net negative project when it could have been a direct shot at Microsoft and Valve.
I think it was more that the experience was pretty much there. Hardware takes a loooong time to mature, even more if its a new style or package. I'm assuming that they were prototyping this in 2015-18.
Also, Apple knows that AR glasses, if done right, and not turned into a cesspool of perverts (ie google glasses) will be a massive platform. However its going to take at least another 5 years to get something usable. So if its possible, I expect apple to come out with something just after Meta either gives up or has a string of failures.