Beyond being just a more available HUD, the AR aspect should make for more direct interactions with the real world. Lighting controls come to mind since that's the space I work in. What if instead of having light switches built into your house, they became a purely virtual construct that each user places into the world?
Right now, IoT lighting feels clunky because you walk into a room, take out your phone, open an app, pick a light, and move some sliders. What if you could just drop an imaginary button on the wall by the door for each preset, or a virtual knob for dimming? It's the exact same functionality, but putting it into the relevant physical space makes it a lot more useful without requiring additional hardware for every room. And if your guests have AR glasses too, then you have a default "guest layout" for your house that's automatically available to anyone on your wifi. They get access to the light switches, but they can't unlock the front door.
Plus you don't have to worry about replacing switches in every room if you replace the lighting system. Just the one HomeKit hub (or whatever it is) and the switches are completely imaginary.
I haven't spent a lot of time imagining where AR will go, that's just one thought off the top of my head.