For you to think that AR will be the real deal, whereas VR isn't makes me think you've never played VR games.
That big 'ol list of negatives, yet AR has twice as many negatives.
And AR is probably in the stage that VR was in 5 years ago at this point.
However I think the obvious thing is they will eventually converge on the same device. You can use it to see virtual and real world objects or it will be able to render virtual items into your entire view.