I was around when smartphones were introduced to the market, I had to learn how to use them and teach everyone on my family, and I don't recall the concern. Maybe I was too young to care.
In any case, I'm not against what you are presenting here not the technology itself, I'm just telling you why the trust is being broken. As you described it with phones, context matters, and the fact that the main glass producers right now are who they are is a massive factor on public perception.
In fact, I use glasses and it would be cool to have some AR on them. I hope that the huge negative perception of these glasses push others to create more security/privacy aware glasses and expand the market so people that have real use for them like blind people can make use of the technology without being subjected to the negative perception of the RayBan Meta glasses.
GDPR should in theory prohibit them from putting it for sale in the first place in a bankruptcy scenario, but if they are bound to disappear, there's no one to go after so idk...
I'm mentioning European regulations in a post about an American airline company just because you said any, and yeah, I'm bound to disagree there.
In any case, I already didn't trust any American company since they can be subpoenaed and they are bound by law to give all the data to the government, which looks as or more evil than the general evil American company rn.