Re: @Mr. K
Interestingly, there are companies that sell condensers for exactly that use, at a reasonable scale and apparently profitably. It's an expensive way to obtain water, but there are some niche uses where it's more expensive to bring your own than to grab it from the air. Desalination is another example: stupidly expensive, but if you've got the money and energy to burn and you don't want to move somewhere wetter, then go for it. With Magic Leap: AR is clearly possible. The question is whether they are able to make it practical and profitable.
The warning signs are usually as pointed out in the article. Doesn't look great for Magic Leap, but from outside you can't see enough to tell absolutely for certain until either they succeed or fail.
One assumes that their current investors are not morons and have been asking the same basic questions as The Register, with their own engineers and business strategists in tow prior to investing. I don't really care, because... I'm not an investor. If they haven't bothered, then more fool them. The Register seems to be so frothy about the whole thing because they find the founder very irritating (I have sympathy there).
I'm sure the technology works, because you can't fake a perceptual experience in the same way you can fake a condenser or a solar grid or a medical testing machine. The question is whether it works flawlessly yet, and if they can get it all into a reasonably priced practical package. Even then they aren't home free, as people need to have a good reason to shell out for this, which means compelling exclusive functions and content from day 1. History is littered with beautiful tech that died because it had no obvious purpose.