Toward the bottom of their page, they have links to third-party reviews. I clicked on the one for Adafruit and got a description of one of their other products, the Monocle:
The Monocole is clearly a peripheral device. It includes a small embedded processor and an FPGA, but it seems like the device is clearly intended to work in conjunction with apps running on a mobile phone (via bluetooth).
The Frame glasses look like a next generation version of the same concept. Very interesting. Quite possibly useful (depending on the apps that become available for it). But not at all like an AVP, which is a fully self-contained computing device, not a peripheral paired with a phone or computer.