Second, how do you know whether this product does anything well? You don't. You're guessing. Odds are that it doesn't. Even if it does, it will be a joke and a failure for the same reasons that Google Glass was: you have to wear it, and it looks stupid, and it's shockingly, hilariously obtrusive and will creep people out.
So basically, you're wrong on all counts.
Snapchat should stick to the one thing it's good at: more plausibly-deniable ways to send dick pics.