To be fair, Apple’s first gen products in a new major category are always like this. The first iPhone, iPad, Apple Watch were all a bit underpowered and had major compromises. But they alway lay most of the foundation for the great software/hardware experience that will be incrementally improved upon later. The VP’s main differentiator compared to other hardware that came before is the precise eye tracking/hand gesture interface and how it works with depth in your surroundings.
It's my understanding this version of AVP is more a development platform to quickly get into developer hands so interesting AR apps can be created, ready for the AVP II, which will likely be more refined (and possibly glasses) and cost less money.