[kurthr]

The key is this statement buried in the paper.

   The process starts by illuminating a scene with a monochromatic light source—a 
   laser. 

What that means is that this only works with monochromatic light. The focal distance would be different for each wavelength. That's why it's useful for laser range finding. You would need to illuminate with several different lasers to get a "full color" image, and likely have multiple lenses... although some are tunable.

So it's not gonna work for standard glasses, current VR or anything else like that.