The obvious problem here is that they tried to make HoloLens a dedicated, independent unit. Because of this they were limited in raw performance, and, as such, we got to the FoV problems as a way to cover up the fact that the hardware cannot handle a resolution that would allow a higher FoV and still not look pixelated.
The ideal solution is to tether it, whether wireless or wired, to a desktop or an otherwise immobile piece of hardware that would be big enough to pack enough power to render at high resolutions, but too big to fit in the headset itself. However, Microsoft themselves have made it a specific point to avoid something like that, focusing on making the device mobile.
In other words, we have gotten to a point where everything about augmented reality can be done. We can measure the room around us, we can render 3D objects, and we can insert these objects into the room in a realistic manner.
But, for all practical reasons, we're held back by one thing and one thing only: the fact remains that mobile hardware is not powerful enough to do this on its own, at least not without disappointing limitations.