How does anyone enchant investors? They were early to the table and had amazing demos. In 2014 when I did a few year stint in live action VR, there were already murmurings of Magic Leap being vaporware.
But yeah, your impression lines up with what I was hearing 10 years ago too. Magic Leap was leaning waaaaay too hard into a premium market that was too poorly formed to satisfy, with decreasingly valid value prop as the field of VR evolved. Google Glass would bite the bullet, HoloLens found a few government contractors to pick up the bill and surely Vision Pro will peter out with similar slight entrenchment.
Mainstream VR just doesn't make sense, and consumers won't admit it because we're desperate to be wowed. I like my Oculus Quest, but even a perfect version of the headset wouldn't replace my phone or my PC.
