I feel like the value in AR lies more in knowing where the user is, in proximity to what, and trying to draw them somewhere than necessarily showing them virtual overlays of items already in that physical space.

In other words, you use your phone's camera to do whatever, and the phone notices you linger at a window or a billboard (by tracking your eye movements and retinal responses.) You get home, and suggested items are virtually added to your living room.

Maybe you walk past a clothing store and it adds a new suit to your reflection.

Or AR games that require you to move past physical ads or storefronts, and take pictures of them.