Those glasses are designed to be the party Polaroid of a generation. The person holding the camera gets the attention of everybody keen on presenting themselves, the bet is that putting the camera on your face intensifies this experience. Expect these things to get passed around a bit when in use, so there will quite some local virality within groups. This is good for immediate sales, but long term usage could suffer hard if market saturation coincides with the novelty wearing off. If there is one Polaroid at a given party, it is the center of attention, if there are three of them, they are all just annoying. The me-too buyers well get quite the opposite result compared to the early adopters.

If Snapchat sets up the glasses business as an additional revenue stream, it could well become a reasonable but limited success, if they set it up "strategically", maybe even selling at loss, I predict terrible failure.

Not sure network effects are necessary there. It's fine if one person makes videos with glasses as long as friends enjoy watching them.

If the glasses are promoted as something you only wear when you want to record video and that you otherwise put away it might take off.

Nobody minds when you pull out a cell phone and record video because it's obvious you're filming. I think it was the omnipresent threat of being secretly recorded that made Glass creepy.

I would posit: your perception of "total douche-ness" (your words, not mine) are largely driven by marketing and/or culture.

Glass definitely failed in the marketing, branding, and roll-out departments (among others) -- but they're no more or less doofy (to me) than many other perfectly-accepted fashions: baggy pants, beats headphones, crocs, etc.