Apple has a tech advantage lately with their software and hardware stack. But historically their products have done well because of product features not because of tech advantages. There is a non-zero chance you get an almost $4K device as hamstrung as an iPad.
So the question still remains, what are they going to do with it? It has much potential. But in some ironic twist of fate it is Meta taking the product first approach here. And Apple’s closed ecosystem (not to mention high price) puts them at a huge disadvantage to target the social/gaming angle of “spatial computing”.
It’s not over yet, and in general this is exciting because competition will start to ramp up.