This product seems aimed at the Chinese market for now, but would likely be more accepted if the camera could have a small hardware shutter over it. The presence of an indicator light though does show some attention was given to privacy. I like the concept of a heads-up display built into a design that looks pretty like regular glasses. A big bonus of course is that Facebook, Google, etc has no involvement, so as far as we know, no data is being sold to advertisers.
Ideal uses could be a teleprompter for speeches, navigation prompts, menu/sign translations, etc.
See Xiaomi Smart Glasses are more than a wearable companion to your phone
Xiaomi has unveiled its first smart glasses, the Xiaomi Smart Glasses, which they say is more than just a secondary smartphone display.