I was at a summer internship where some college interns made the same thing with the use of a leap motion controller and two 1080P webcams. the result was that you could use AR mode where you also saw your surroundings (albeit slightly grainy) and the VR was floating in the space like a holo lens. it also could be used in pure VP mode. So they beat them out be nearly 4 months (granted their final product was not that polished). I guess I am just not impressed because their project did everything this will ever do, and their budget was certainly lower. Also I dislike VR, so It is hard to win me over in the first place.