Augmented reality - Facetime or WhatsApp with labels

Am I overlooking something obvious on Augmented reality? It just seems to be Facetime or WhatsApp with labels to me?

I'm happy to be convinced otherwise but it seems like an expensive licence option to me in all but industrial settings.

Happy to be convinced otherwise.

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Again, this seems like something that is perfect for an on-demand offering for smaller outfits like mine.

Better to get some money than none at all.