The laws of physics didn't change, it's great but suffers most of the problems of IR communication, namely air diffraction/absorption (severely hurting range) and mostly line of sight communication. Through advanced modulation schemes one can reach gigabit speeds but it's such an extremely short range[1] it's no surprise there seems to be no commercial product.
Terahertz signal processing, though, has a much brighter (hah) future ahead, in medical and security imaging[2].
[1] http://www.embednet.com/Giga-IR_General.pdf
[2] https://codeburst.io/terahertz-thz-gap-tech-for-speedy-commu...