Key feature: see-through glasses. The eye strain was a major problem with Google Glass, that's not present here.
This will no doubt have some incredible applications, most of which augment reality. Not quite the same goal as Occulus.
I bought an oculus and am excited by VR because teleportation IS FREAKING AWESOME. AR is cool, but a far cry from the sense of presence that we talk all day about in VR land.