Isn't normal reality good enough?
The real in augmented reality is about the same as the real in reality TV.
It has alreadty been demonstrated that taking pictures of everything interferes with your ability to actually take part in your surroundings and hence detracts from your quality of life (unless you live in some shit hole where a pixelated life is far better than the real one).
People have worse memories of their holidays if they spend their time taking photos of everything.
The latest craze of taking photos of food you're about to eat detracts from your actual enjoyment and experience of the food (apart from disrupting other diners).
As for playing with the kids... they prefer it, and will remember it more fondly, if they actually get to play with you rather than having to interact with the camera instead.
In the past our technology was limited and we could all cope well with its invasion into our lives. Now the technology has got to the stage where we are limited and are struggling to cope.
Shutting down now... Going for a walk on a real beach with the family... No cell phones, no Facebook... We mighe even see - with our real eyes - a real penguin.