The Future of Augmented Reality (?)

The movie below provides a view on the future of Augmented Reality. We are big fans of augmented reality here at digital urban but someone we dont quite see it as the future. There is something that simply does not feel right within the general day to day urban context:

We maybe wrong but waving your phone around simply does not feel like the future to us, hyper location based services linked to voice recognition system such as the emerging SIRI are perhaps more likely than an augmented reality future, at least in the short term…. (?)