They weren't selling a fantasy, they were selling real tech. Their block has been "consumerizing" it.
My understanding (from sources who have experienced the demo) is that their first demo was BONKERS. They projected light right onto the users eyes, so instead of having a AR heads up display, you had a light beam projecting images into your eye so they could add elements into your field of vision and make it look like they were naturally there. The issue is that they couldn't get that demo into any sort of a state where it could be commercialized. The rig was the size of a large room, the person hooked in was basically required to be stable for the duration of the experience. The eye-tracking for projecting was difficult and worked alright but not 100%. The funding they received was based on the demo of tech. After they realized they wouldn't be able to commercialize it, they transitioned to a more classic AR setup. The magic leap tech will work, but it will be 10-20 years until we are able to use it.
My understanding (from sources who have experienced the demo) is that their first demo was BONKERS. They projected light right onto the users eyes, so instead of having a AR heads up display, you had a light beam projecting images into your eye so they could add elements into your field of vision and make it look like they were naturally there. The issue is that they couldn't get that demo into any sort of a state where it could be commercialized. The rig was the size of a large room, the person hooked in was basically required to be stable for the duration of the experience. The eye-tracking for projecting was difficult and worked alright but not 100%. The funding they received was based on the demo of tech. After they realized they wouldn't be able to commercialize it, they transitioned to a more classic AR setup. The magic leap tech will work, but it will be 10-20 years until we are able to use it.