Physics won't allow for a camera passthrough device that's as thin as an optical passthrough without using waveguides. So yeah, a 30-40% lighter AVP might be possible, but that's still going to fail social acceptability. Even if it were 90% lighter (100g incl. battery), I don't think it's a viable device beyond intentional wear, whereas something like Orion, which gets out of the way and acts as just regular glasses, while too heavy right now (98g) has line of sight to all-day wear (50g).
I personally don't think there's line of sight for AR (optical passthrough) to ever have true MR capabilities like VR has, but that's OK, because the use cases are different. I do think in 10 years, AR tech will be at a point where it can replace your watch and phone for nearly all use cases, plus it will unlock a bunch of new ones.