Possibly, but copying a web app is substantially simpler than copying AR tech. Considering magic leap was stealth with hundreds of millions in R&D, I would put it in a different category than making a similar web app.
Wow. That number sounded high since I'm very unfamiliar with the space but according to crunchbase [1] they took in 2.6B in funding overall. Before this headset they mainly put out a few iterations of that gesture input device, right?
Leap Motion (which did the gesture recognition input stuff) was recently sold at about a 10th of their peak valuation ($30M price from $300M valuation about 2 years ago).
I declined the position based on the fact that their options were already diluted without a product or revenue stream.
Maybe one day I will regret that decision when they get bought by Apple, but I just don't see it happening.