Obviously, I'm on your side of the spectrum. There's an interesting counterpoint to the first part of your second paragraph, though, in an interview with one of the Glass designers. Wish I could find/link to it, but I can't remember her name or where it was published. Anyhow, she was talking about the point at which she started thinking about Glass- she walked past a long line of people waiting for the bus or something, and saw them all with their faces pointed down, ignoring the world around them in favor of their smartphones. She decided she wanted to push for a smart system that encouraged you to interact with your surroundings via the interface rather than ignore your surroundings in favor of the interface.

So there's that. But still, I suspect it's just going to going to become another method of diluting/replacing reality rather than really augmenting it. Also, feels like it's just another logical step in a progression towards complete integration, where an interface is indiscernible from the body using it. Which I think a lot of people would think was really cool, but I find unsettling.