My takeaway: Magic Leap is definitely not vaporware. It is a solid first product.

I agree with Ajedi32 comment that Overall it's evolutionary, not revolutionary, which is great per se.

The hype was unacheivable, as their marketing videos are (were?) misleading to say the least. Which I think is a strategic mistake that can hurt its adoption.

If they have a chance to return all of their investment, it depends of what they will be delivering in two or three years. If it continue its evolution agressively or this product is all they have.