Apple sold over 500k (the last reported number) of Apple Vision Pros and they had/have a built in ecosystem and known developer tools.

It's been considered by all measures a flop. (I have one and love it).

Snapchat has a 2nd rate social media platform after a new audience, they already failed with hardware once, they lost all momentrum relative to their geo spatial ad filters and Lens make app (blew up during COVID).

I dont know convinces anyone that they are due for an Apple like moment in AR at $2k+ per glasses.

This is why VCs/PEs tend to not like founders.