Honestly it shouldn't take a billion to make a viable product. I mean come on that is more than 20 Juiceros worth of funding. Why is VR/AR still not compelling enough after years of investments?
magic leap is one of those companies sitting on a goldmine waiting for a platform(AR glasses) to become a reality. if they could even make a sensor that'd fit into a smartphone,it'd be killer. the latest htc flagship u12+ tries to do what vive does already with hand sensing in the camera and such. it would be amazing if they opened a layer of interaction on top of just touching the phone