It is, I fully expect at some point we'll get "in game" MMORPG player characters that are emotively very very effective. The immersion level will be pretty intense at that point, especially if it's VR but even a 3rd person view type like WoW using a web cam to process your facial expression?

Another interesting application would be "zoom" meetings where everyone is shown around the table or in the audience and it processes their emotive state in real time. That could help speakers engage with the audience in a better way.

Of course the "bad" uses of this tech are pretty out there too, from porn apps, to ripping people off by getting a "zoom" from a relative.