The future as nightmare more likely. The theme of the video is how this technology is going to further alienate people rather than facilitate communication. You can already see a contemporary version where people everywhere, faces buried in their devices obsessively txting and no doubt looking up their 'friends' on Facebook. Anything but instigate a conversation with the person sitting next to them. See 'The Congress (2013)' for an interesting variation on the theme. http://www.imdb.com/title/tt1821641/
Yeah, and the response to that is "people were always doing that". As if some billions of us weren't around in the 70's, 80's, 90's, and even 00's to see what the real case was, and will be convinced by such bs.
As someone not in this field, I have no idea if the remaining problems are going to take more than another few years to solve but I hope not!
Additionally to that the Hololens is also quite bulky, so it's not like you can sacrifice on the design to create more battery capacity. It already doesn't look like something anyone would want to wear outside.
Even if you improve the battery capacity, increase efficiency of the hardware and software and you still have something you can't really sell anyone as a AR-utopia level device, just on account of that design.
I'd expect it to take at least a decade until you'll see regular people wearing AR glasses regularly as a personal device during their daily life.
So the tech depicted here is actually less advanced than we what we have today (Hololens etc are all trackerless). Other than having a compact form for glasses this kind of reality is achievable in just a couple more years.
Despite the theme of the video I am looking forward to it. The first decade of having the internet sucked too with geocities design and crazy popups/viruses on every click. But I wouldn't choose an alternate reality where the internet didn't exist at all.
We should be more optimistic that all of these UI issues will be figured out once it actually gets adoption.