Sure, this is something you can do with smartphones, but people used Facebook, Orkut, MySpace, etc. before this was a thing. In other words, the fact that they can show their memes around the table isn't the reason they use this apps.
Multiple people will be able to use vr in the same room and see what each other are doing/join in. They will also be able to see each other's IRL bodies through depth cameras or camera reconstructions, and dynamically replace the hmd in the depth capture with face and eye capture data. Video of the eyes/face can be passed through to people outside with parallax/Pepper's Ghost making it look lined up close to their real face.
