Sure if you only care about 2 of the 5 senses and don't mind VR sickness. Then sure it's a teleportation device. For everyone else it's basically an expensive and awkward portable display.
I have worn my AVP for about 6 hours a week since it came out. Not once, for one second, did I have any motion sickness.
It’s a completely solved issue. The head tracking runs on a completely different chip and hyper visor layer from the OS so even with a kernel panic the tracking doesn’t fail.