My contention isn't that it won't happen only that it's irrelevant. Smartphones are just UI. They don't really make anything new possible. An absolutely perfect smartphone will be marginally more convenient for some modalities than a laptop and much less convenient for a lot of others.
Smartphones make loads of things possible that weren't possible before. They are extremely portable, have excellent displays for text, can connect to mobile data networks and contain an array of sensors that benefit from mobility.
You can connect usb GSM adapters to have the mobile network on a laptop (same for all the other sensors). It is just a lot more "convenient" to have a smartphone in your pocket rather than carry a giant laptop with you everywhere. Which is the point I was trying to make. Yes, technically all thinks VR does is possible with a smartphone but it is a lot more "convenient" to have google maps directions overlayed on top of real world rather than looking at it through a smartphone.
I'm not sure it is more convenient. Google Glass did heads up directions years ago and nobody cared. I don't get lost so quickly that I can't just peak at my phone every minute or two. I'm not buying a piece of hardware to strap to my face for just that one thing. The current pinnacle of AR adoption is still Pokemon Go and that was 5 years ago. And it was really just a gimmick.