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It’s actually a great idea - an up up-to-date light field camera combined with eye tracking to adjust focus. It could work right now in some VR, and presumably the same presentation without VR via a front-facing two-camera (maybe one camera with good calibration) smartphone array.
Yup, I was seriously considering getting the Lytro, just to mess around. The main problem, is the resolution drop due to needing multiple sensor pixels per “image pixel”, but then having to store them all anyway. So if you wanted a 10Mpx output image, you might need a 100Mpx sensor, and shuffle around 100Mpx… just for the result to look like 10Mpx.
If we aim at 4K (8Mpx) displays, it might still take some time for the sensors, and data processing capability on both ends to catch up. If we were to aim at something like an immersive 360 capture, it might take even longer. Adding HDR, and 60fps video recording, would push things way out of current hardware capabilities.