The live captioning with directional audio seems like it could be a huge win for people who are hard of hearing, especially given the display is invisible so is much more natural to use in real life than say a smart phone or a VR headset with passthrough.
Another thing that's cool is the neural band. It looks like it's a more robust and flexible implementation of what Apple is doing with hand tracking.
But generally the idea that you can interact with the glasses silently with your hands to your side while wearing what effectively looks like a normal pair of glasses is incredible. I think this this is the first time we've seen an implementation of AR in which a large group of people could see value in it.
Also the fact Meta was first to market with a solid implementation of AR and not Apple or Google is also notable. I think I would have doubted their ability to pull something like this off a few years ago.