It'll be basically unusable other than for very specific, niche applications unless you're able to control a privacy/contrast layer behind the main screen.
Ignoring the privacy aspect, as I've found out trying to adjust opacity for my windows etc., working with more than a very slight blurred level of visibility of anything behind the windows is a nightmare, even with hacked up outlines and glows around characters to make them stand out more against a more translucent background.
If you could make the windows arbitrarily opaque but the background translucent, then maybe.
I would love one of these displays that integrates smart film for a real "frosted glass" look. And since it's smart film, it'd be able to become totally transparent too.
Gimme a real physical keyboard though, and no "AI".
The thing is, for the privacy aspect, I'd need the frosted glass look to only work from my side of the display. Even a blurred/frosted display leaks way too much information if parts of it is high intensity colour up close.
Maybe if it had dual screens and cameras so it could be made to look as if it is translucent from both sides but the 'outside' is faked however you want it to be.