That I would think is better than VR, because you don't lose the sense of your surroundings (something that really annoys me on VR).
But I think the technology has some way to go before being practical.
It has design flaws that VR handles much much better though.
For this to be practical (and kinda do what VR does), you ll basically need a entire room covered in this technology, not just a small table.
1) that ll be super expensive, and require each home to have a dedicated room for it.
2) it ll still be "less" of a experiance than what VR can provide, by simply putting on a headset (much less room requirement & cost).
2) it has more than "some way" to go before being practically, unless you want to only use it for simple small board game type games.